Stirol Gearing Up For IPO.

In a month Stirol (STIR: BUY) will officially announce at which stock exchange and the size of the block it plans to place. According to the company?s CFO, they are considering the New York and London stock exchanges for possible placements. He also said the company is involved in 80 investment projects that will require USD 400 mln by 2008. The CFO said no decision has been made on where to invest the company?s ready capital (cash made up 34% of the company?s assets at the end of 1H05). The parliament?s decision to postpone the privatization of Odessa Portside caused Stirol to shelve its plans to participate in the tender. Concorde Capital: The company?s USD 600 mln plan for gross sales is ~17% higher than our initial projection for 2005. It implies a 61% increase in sales in 2H05, compared to the previous half year.