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IPSCO Tubulars still committed to share listing - TMK
5/28/2018 金属板材展-棒材-线材展 -plate metal expo-wire expo |
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Reuters reported that IPSCO Tubulars, the US subsidiary of Russian oil and gas pipemaker TMK, remains committed to an eventual initial public offering (IPO). Vladimir Shmatovich, TMK head of strategy, told Reuters on the sidelines of the St Petersburg economic forum, “We filed the (IPO) prospectus once again last Friday and it is for a reason. The deal is not canceled, it was just postponed in January. We remain committed to this process.”
He told “This is because the request for exception is being filed separately on each group of products and there are a great many of them. Several thousands of such requests have been submitted already because every supplier has dozens of such product types, according to our information, and only a few people are looking at all of this. That is why no one has received physical answers yet. If one calculates the pace of the process, it can take more than a year.”
He declined to comment on the timing of the potential deal.
IPSCO, which halted its IPO in February citing adverse market conditions, said last week that it had filed an amendment to its registration statement with the US Securities and Exchange Commission relating to the proposed share offering.
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