Rostelecom postpones IPO for RTK-DC amid current market conditions, 'not in immediate future' - CEO Oseevsky

MOSCOW. Nov 19 (Interfax) - PJSC Rostelecom has postponed the IPO for its JSC Data Storage Center (DSC, Rostelecom Data Centers (RTK-DC) brand) cloud subsidiary and plans to wait for favorable market conditions, as floating the company on the stock exchange is not in the immediate future amid the current situation, Rostelecom CEO Mikhail Oseevsky said.

"We have postponed it. We plan to wait for the situation to change on the financial market and stock market. It is still rather complicated to say when this would happen," Oseevsky told reporters on the sidelines of the Client Safety First conference.

The IPO will not take place this year, he said.

"This is not in the immediate future at the current price for money," Oseevsky said.

Oseevsky also said that much preparation has been completed for the IPO, including DSC being transformed into a joint-stock company.