Bogdan Corporation eyes IPO in 2010

Bogdan Corporation President Oleg Svinarchuk said yesterday at a conference that his company was considering a public placement of shares in 2010, noting that specific plans have not been made but were being explored. Svinarchuk said it would be several months before details could be disclosed. Bogdan Corporation is the holding for Bogdan Motors (UX: LUAZ UK) and began consolidating assets in 2007, which were viewed as advance work for a placement. Yegor Samusenko: Given current market volatility and recent IPO postponements in Russia (Rusagro, Uralchem), we think the company is likely to wait until autumn at least. Moreover, continued weakness on the local auto market does not bode well for a Bogdan IPO in 2010.