Sibir delays London re-listing
Russian producer Sibir Energy has delayed its plans to re-list from the
Alternative Investment Market to the London Stock Exchange by at least six
months.
The company, which initially planned to seek admission to the main list by 30
June, 2007, said it needed more time to complete corporate restructuring and
improve relations at the Moscow refinery, which Sibir owns jointly with
Gazprom Neft.
"The deferred timetable envisages application to the official list either at
the end of the second half of 2008 or in the first half of 2009," Sibir
Energy said in a statement.
The company said the postponement did not mean the general plan would be
revised.
"Sibir remains fully committed to moving from AIM to the official list of the
London Stock Exchange and today's announcement reflects only a delay in the
planned move," Sibir boss Henry Cameron said in the statement.
08 May 2008 11:45 GMT
| last updated:
08 May 2008 11:54 GMT
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