TMK and leads sure $1bn IPO on track, few investors fear Russian governance

05 Oct 2006

Trubnaya Metallurgicheskaya Kompaniya, the world's third largest producer of oil and gas pipes, is confident that it can attract investors for its $1bn IPO in November, despite a continual flow of press stories suggesting that Western investors are losing their appetite for Russian flotations.

Credit Suisse, Dresdner Kleinwort and Renaissance Capital began premarketing the London and Moscow listing this week and should publish a price range in a fortnight, with pricing two weeks after that.

The media in the UK and elsewhere have continued to claim that a significant and growing proportion of ...

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