Date: 6 months ago   Category: Energy

Safmar doesn't plan the IPO of the oil companies of Neftis and Forteinvest — Rambler News Service


The Safmar group of Gutseriev' family doesn't plan initial public offering (IPO) of the oil companies of Neftis and Forteinvest yet, the co-owner of the Safmar group Said Gutseriev has told journalists. Gutseriev has explained that the environment in the market doesn't dispose to carrying out the IPO, besides at Forteinvest realization of a number of projects continues. "While it is premature, we have this year a modernization, many tasks stand - production growth, some more actions separate on modernization. The IPO needs to be done when the company at peak. Now the market not the best, isn't enough western means. So so far the market won't rise, and so far the Forteinvest company won't reach the strategic plans, we won't consider" — he has told. "Neftis also independently develops. Yet there are no plans neither for integration, nor for the IPO" — Gutseriev has added.

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