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ChelPipe Mulls IPO Again

ChelPipe might sell shares to investors in April or May, chairman Sergei Moiseyev said.

"We are having a non-deal roadshow in Europe devoted to the publication of our financial results next week," Moiseyev said Tuesday. "If we feel there is interest in buying our shares during this roadshow, we will consider a sale in April or May."

ChelPipe shares jumped the most in more than two months Tuesday after Interfax reported that it is returning to plans to sell shares in London. ChelPipe climbed as much as 6.2 percent, the biggest gain since Jan. 17, and closed up 4 percent at 96 rubles in Moscow. The company postponed an initial public offering on Feb. 10 after failing to get orders higher than the bottom end of its price range, two people familiar with the matter said.

(Bloomberg)

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