EMAlliance does not rule out IPO in 2011

EMAlliance, one of Russia’s largest power machine-building companies, does not rule out floating shares in an initial public offering this year, Deputy President Dmitry Tarasov told reporters on Tuesday.

“Maybe on both Russian and foreign (trading floors), and maybe already this year,” Tarasov said.

Media reports have said that EMAlliance’s only shareholder, Cyprus’s Auburn Investments Limited, is controlled by Yevgeny Tugolikov, a parliamentarian from south Russia’s Rostov region where EMAlliance’s core plant is located.

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