Rostec could float shares in major holding cos - Chemezov
ABU DHABI. Feb 24 (Interfax) - Several major holding companies represented by the state Rostec corporation may hold initial public offerings (IPO), but the economic situation means they are unlikely to do so soon, Rostec chief Sergei Chemezov told reporters in Abu Dhabi.
"Such holdings as Avisma , Helicopters of Russia , Schwabe and Radio-electronics Technologies are ready for an IPO, but the current economic situation is not conducive to this," Chemezov said.
Chemezov said some companies might not float shares at all but look for investors prepared to buy large stakes in them. "We suggested this option to our partners in the UAE. They are considering it," he said.
He also said large stakes in Rostec's holding companies might be offered to their top managers.
"I'm hoping the situation will change in the near future and that investors will emerge who will buy blocks of shares," he said.