UralChem has no plans for IPO in near future
PERM. May 23 (Interfax) - OJSC UralChem Holding has no plans to hold an IPO in the near future, the holding's owner, Dmitry Mazepin, told journalists in Perm on Wednesday.
"In the near future, no. We aren't discussing this issue. It's not on the agenda," he said.
Mazepin added that if the company requires funds for its major projects, it would prefer then to tap bank lops.
"The company feels stable. We don't see the need [for holding an IPO]. We understood early on why we're would do this. We needed to refinance debt. Now, all of our financial issues have been settled. The debt isn't that extensive and it is just a bit more in relation to EBITDA. Therefore, we don't see any sense in borrowing on external markets, which are now experiencing serious difficulties. With us, everything is more or less calm and well," he said.
UralChem, after holding a road show, was forced to cancel IPO plans in spring 2010 since the estimate given to the company by investors was considered unsuitable. All funds from the IPO would have gone to paying off debt.