TMK is going to hold an IPO of its North-American subsidiary

TMK is going to hold and IPO of its North-American subsidiary TMK IPSCO, RBC writes. The majority shareholder of ТМК ,D. Pumpyansky claims that the measure is necessary due to restriction of the access for Russian companies to attract loans abroad. Nowadays the plans for entrance to IPO are still abstract but they are possible under ‘definite conditions’, he states. ‘If it were not for the current political situation and we had the access to the alternative financing sources, we wouldn’t discuss this option at all’, he claims.

ТМК has invested over $5 billion to its American business since the date of its purchase in 2008. The company was going to integrate the Russian and the American division but now ТМК has stopped all negotiations and all joint research, Mr. Pumpyansky explains. ТМК will have to create something like the Great Wall of China between the Russian and the American divisions of the company.