Sovcomflot Eyes New York, Moscow IPO Float

Russian shipping line Sovcomflot will likely go to New York and Moscow for its initial public offering, its General Director Sergei Frank said on Friday.

“We are now discussing the IPO. I think it will be in New York and Moscow,” Frank said at the St. Petersburg Economic Forum.

Previously, the company had suggested the London Stock Exchange as a possible alternative. The company would not float on all three of these stock markets, Frank said.

The Russian government plans to sell its stake in the company by 2016.


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