Data Storage Center, Solar Group technically ready for IPO, could float if Central Bank rate 10% - Rostelecom CEO

MOSCOW. May 27 (Interfax) - Rostelecom's JSC Data Storage Center (DSC, RTK-DC brand) and its Solar Group cybersecurity subsidiary are technically ready for initial public share offerings but the Central Bank's key rate would have to fall to 10% to make this possible, Rostelecom CEO Mikhail Oseyevsky told Interfax.

"They're [technically] ready, all the formalities are complete," he said.

"We're looking at the situation objectively - 10% and the IPO," Oseyevsky said.

Rostelecom expected to float JSC Data Storage Center on the stock exchange in 2024 and was looking at an autumn window to offer around 10% of its shares, but this was put off until the market improved. The Solar flotation was to have followed the cloud subsidiary's IPO.