Russian TMK postpones the initial public offering of shares in the US for 2 years.

The reason was the collapse of the US demand for pipe caused by low oil prices.

Russian Pipe Metallurgical Company (TMK) of Dmitriy Pumpyanskiy had postponed the initial public offering (IPO) of its American division TMK Ipsco for 2 years due to the collapse in demand for steel tubes in the United States and Canada, the Vice President of Strategy and Business Development Vladimir Shmatovich told Bloomberg TV.

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