URALCHEM HOLDING PLC postpones initial global offering
Moscow, Russia – April 30, 2010 – URALCHEM Holding P.L.C. (“URALCHEM Holding” or “the Company”), a company incorporated in Cyprus and the holding company for UralChem Group, one of the largest producers of nitrogen fertilizers in Russia, today announces the decision to postpone its initial global offering (the “Offering”). The Company’s management and its 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 Directors of URALCHEM Holding, commented: “Our Offering generated considerable demand by international institutional investors. However, we decided to postpone the IPO as we were not satisfied with the valuation that could be achieved in the current market conditions. Our Company has established market leading position in mineral fertilizers with a diversified portfolio of products and we are committed to increasing the value of URALCHEM Holding. We may consider a public offering at another time in the future.”