Russian Helicopters, which called off its initial public offering on the London Stock Exchange on Wednesday, plans to make another attempt next year.
The offering attracted the interest of almost 130 funds and banks, but investors wanted the company to lower the IPO price range, Russian Helicopters chief executive Dmitry Petrov said Thursday.
Andrei Reus, chief executive of parent company Oboronprom, said investors were waiting for a discount. "The markets were asking for a price 11 percent below the low end of the IPO price range," he said.
"We cannot allow Russian Helicopters to be undervalued. We will definitely do this IPO," Reus said.
(Interfax)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
