TAIF Group does not give up its IPO plans but no decision on stock floatation has been made so far, as the company’s General Director Albert Shigabutdinov stated at the press conference.
‘The shareholders have not come to a final decision yet. The IPO issue will not be withdrawn from the agenda though in order to enhance financing of large projects implemented by PSC “TAIF-NK” and OJSC “Nizhnekamskneftekhim”’, A. Shigabutdinov said.
Earlier he told that an IPO decision may be adopted in 2011. It was planned to carry out listing of both a subsidiary of the group and the parent company (10 to 23% of shares).
At the end of the last year A. Shigabutdinov stated that the company was negotiating with the largest global and Russian banks on a matter of $12 bln fund raising for implementation of petrochemical and oil refining projects.
TAIF Group includes, inter alia, “Kazanorgsintez”, “Nizhnekamskneftekhim”, and “TAIF-NK”.