Russian automotive manufacturer GAZ Group will be ready for IPO in October-December, 2007. It was reported by GAZ chairman Eric Eberhardson.
However, analysts say, the final decision regarding the offering was not yet made, as GAZ does not have necessity to attract funds through extra emission and has sufficient cashflow and unused potential for attraction of loans for the purpose of financing of investment program.
By February 1 GAZ Group is expected to complete merge of its subsidiaries and introducing the consolidated stock. This move will lead to establishment of Russia`s second biggest machinery manufacturer with turnover of $4.1 bln.
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