CEO: Aurus plans corporate structure changes, does not exclude IPO

MOSCOW, Mar 2 (PRIME) -- Russian luxury brand cars producer Aurus plans adjustments to its corporate structure and does not exclude an initial public offering (IPO), CEO Adil Shirinov said in an interview with PRIME, released on Monday.

“We are performing the analysis and searching for right partners, both Russian and offshore… We have no limits here, this is an international project,” he said.

“(As to an IPO) – why not… but let’s implement all the stages of the project. We need to sell cars first so that we could hold an IPO.”

The Aurus project has collected over 700 preorders including 65 at the pre-contractual stage, Shirinov also said.

First Aurus Senar cars for private clients will be produced by the company’s Yelabuga-based facility in May 2021, and production of the Komendant sport utility vehicles will begin 14 months later. One of the first Aurus Senat cars will be sent to the United Arab Emirates in 2021.

In 2021, the brand plans to take part in the Shanghai Motor Show.

The company will also choose two or three new dealers in Russia until the end of 2020, he added.

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