Russian tyre producer has outlined its plans for an initial stock offering (IPO). Alexei Gurin, general director of Amtel told reporters at the Russian Tire and Rubber show that the company expects the IPO to take place in October 2005, and to sell up to 40 percent of the company's total stock. He said at least 55 percent of the shares would remain under the control of owner, Sudhir Gupta.
Gurin also confirmed that Amtel is negotiating to buy a large Iranian tyre factory, which, when complete would double Amtel's tyre output.
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