30 Apr 2010 11:35

UralChem delays IPO

MOSCOW. April 30 (Interfax) - UralChem Holding is delaying its IPO since the company believes that current price figures do not reflect its fair value, UralChem said in a statement.

UralChem has not decided against holding the IPO but could return to this plan at a later date.

"Our offer attracted substantial demand from international investors. However, we decided to put off the IPO since we were not satisfied with the estimate, which we could receive under current market conditions. Our company holds a leading position on the mineral fertilizers market with a diversified product portfolio and we aim at increase the UralChem holding's capitalization. We could consider holding an initial public offering in the future," the holding's board chairman and co-owner, Dmitry Mazepin, was quoted as saying in the statement.