AvtoKrAZ freezes IPO plans
2 July 2008
AvtoKrAZ (KRAZ: HOLD) Deputy General Director Yaroslav Bondarenko said yesterday the company is delaying its IPO plans, previously scheduled for 2008, due to the global financial crisis. According to him, AvtoKrAZ’ management will review their IPO date in autumn, when market conditions are expected to turn for the better. Bondarenko said that the company continues to prepare for an IPO and expects to finish formal pre-IPO procedures, like formal auditing, by the end of 2008.
