 RUSSIA IN FACTS |
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27 November 2003 21:20
Power Machines plans IPO in 2004-2005
MOSCOW. Nov 27 (Interfax) - Russian power engineering concern Power Machines plans to make an initial public offering
in the next year or year and a half, the company's general director, Yevgeny Yakovlev, told the press.
The concern is aiming to make an IPO of about $100 million, he said.
Most of the shares that will be floated will come from an additional share issue.
The IPO will be made on foreign markets. Power Machines may work with HSBC on this, Yakovlev said.
Power Machines placed 1.2 billion shares (17% of charter capital) through HSBC at the beginning of November. The cost
of the issue reached $44 million. [RU ASIA EUROPE EEU EMRG MAC IPO STX BNK] me <>
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