The IPO of Russia’s largest heavy truck maker has been put back. The Russian government now says it plans to float shares in Kamaz in early 2008.
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It had been expected that 9% of the company would float on the London Stock Exchange at the end of this year. The government owns a 34% stake in the business.
However, Economy Minister German Gref now says the authorities are ready to sell its whole stake in two floats, one in Russia and another abroad.
Asked to give concrete dates for the placement, Gref told an investment conference: “Once the company is ready and all the requirements of a public listing have been met.
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