Russian coking coal and pig iron producer, KOKS, has delayed its $520 million initial public offering (IPO) plans, Financial Times reports. The company had intended to list its shares on the London Stock Exchange in the second week of February 2011.
The IPO has been postponed due to fragile market conditions amid unrest in Egypt. KOKS along with three other Russian groups, Hydraulic Machines & Systems, Chelpipe and Nord Gold, were seeking to raise about $2.5 billion by listing in London.
Click here for the story from Financial Times.
Click here for the additional coverage from Reuters.