Methanol producer Metafrax is preparing to list its shares on a foreign bourse in 2012 or in 2013, chairman Armen Garslyan said Thursday.
"I can say decisively we are moving towards an IPO. … The company is growing, and we are examining acquisitions," he said.
Garslyan declined to comment on the possible volume of the share sale, but did say Metafrax is prepared to finalize the purchase of an unidentified chemical company. Metafrax is Russia's largest producer of methanol and its derivatives, such as urea formaldehyde resins and concentrates. Its first-quarter net profit rose 77.5 percent from the year-earlier period to 250.4 million rubles ($8.98 million).
(Reuters)
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.
