BelAZ seeks to get its shares traded at FSE
2011-06-30 18:07:42
BelAZ is getting prepared to get its shares traded in the Frankfurt Stock Exchange (FSE), Anna Kornievich, the chief of the department for accounting and disposition of shares of the State Property Fund of the State Property Committee, told reporters.
The process of preparing for an IPO in international stock exchanges is long and takes about two years, if you work fast, said Anna Kornievich. A working group for the BelAZ IPO was established in 2010. It incorporates Deutsche Bank. “We are ready to sign a contract. Before going IPO we need to conduct an audit, do some legal research," said the expert. She also added that the Belarusian enterprise will need at least another year before going public.
The Belarusian Autoworks (BelAZ trademark) was founded in September 1948. The plant produces dump trucks, wheel loaders and bulldozers, tractors, tow trucks, special vehicles for underground operations, heavy-duty trucks for the steel industry and other machines. BelAZ holds a third of the world market of dump trucks and is among the world's leading producers of mining equipment.