11 February 2004 20:52
Amtel to place shares in London, Singapore in fall 2005
MOSCOW. Feb 11 (Interfax) - Russian holding company Amtel is to place shares on the London and Singapore stock
exchanges in September-October 2005, company Press Secretary Alexei Shakirtdinov told Interfax.
"The total volume of the placement will depend on whether there will be a private placement of 15%-20% of shares
in the coming six months. If we do not make the placement then we will place 40%-45% of company shares," he
said.
ING and Alfa Bank are the underwriters for the placement.
Amtel is one of the largest tire producers in Russia with 28%
"At the moment it is not profitable to sell, a return on funds invested in 2001-2003 will be seen most clearly
in 2004-2005, and it is then we plan to enter the exchange," he added.
The company representative explained that the packet of shares to be placed in London and Singapore will consist of
new and existing shares.
of the Russian market. Templeton Strategic Emerging Markets Fund owns 4% of the holding company and Amtel Holdings
Holland controls 96%. [RU EUROPE ASIA EEU EMRG AUT ISU STX GB SG BNK] rd <>
[Interfax] |
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