MOSCOW, Feb 21 (PRIME) -- Russian petrochemical holding Sibur will not float its shares in 2020, CEO Dmitry Konov said in an interview to Barron’s published on Friday.
He said that the shareholders want to hold the IPO, but the management team sees no sense in doing it this year due to difficult market conditions. Prices for petrochemical products fell due to the tensions between the U.S. and China, while the coronavirus outbreak in China creates additional uncertainty.
Konov said in June 2019 that the IPO of Sibur will happen no earlier than in 2020, and that the company saw the Moscow Exchange as the main venue for the listing.
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