Chairman says good time to float Russia's Sibur shares

MOSCOW, Feb 16 (PRIME) -- The current market is not the worst for an initial public offering (IPO) of petrochemical holding Sibur, Chairman of the Board of Directors and co-owner of Sibur Holding Leonid Mikhelson said on Tuesday.

"I think that indicators of all companies sank because of COVID-19 -- Exxon, Shell, BP -- and that of petrochemical companies of the global level have almost not decreased, this is why the time (for an IPO) is not bad," Mikhelson said.

Sibur CEO Holding Dmitry Konov said earlier that the company was considering an IPO but a decision had not been made.

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