UralChem Walks Away from IPO

UralChem (Moscow), a leading Russian fertilizer producer, has postponed plans for a previously announced initial public offering (IPO) in London because its "management and shareholder believe that in the current market conditions the offering cannot be priced at a level, which reflects a fair value of the company." Dmitry Mazepin, chairman of the board of UralChem Holding and 95.5% owner, says that the IPO generated considerable demand by international institutional investors but the company was not satisfied with the valuation that could be achieved...

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