Metinvest Holding To Go Public.

According to the Ukrainian daily Kommersant, Rinat Akhmetov, the owner of Ukraine’s largest private corporation System Capital Management, said yesterday that SCM’s metal & mining subsidiary Metinvest Holding will finish preparations for an IPO by the end of the year. Metinvest is comprised of three divisions: steel, iron ore and coal and coke. Andriy Gostik: Though taking Metivest public is the logical next step for the company, we don’t think that its IPO will be possible before 2007, as the company still has to pass a large number of internal structuring and legal hurdles. Metinest’s IPO will have a positive effect on the companies that make up the holding including: Azovstal (AZST: Pending), Avdiyivka Coke (AVDK: BUY), Khartsyzk Tube (HRTR: Pending).