O1 Properties Plc, one of the largest owners and managers of a portfolio of high quality office properties in Moscow, said Thursday that it has decided to postpone its proposed initial public offering due to adverse market conditions.
Dmitry Mints, Chairman and CEO of O1 Properties, said, "The offering has attracted significant interest from international investors. However, we decided not to proceed with the IPO against the backdrop of current market conditions. We will continue to execute our focused business strategy and thereby achieve sustainable growth, guided by prudent cash flow and balance sheet management, as well as high corporate governance standards. We may consider returning to the equity markets and launching an IPO at another time in the future."
by RTT Staff Writer
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