GREY:HRIVF - Post by User
Comment by
cloudrunneron Feb 11, 2011 3:23am
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Post# 18114492
RE: It's official
RE: It's officialThat's not official...
This is official, and it is not "a toast", it's being postponed.
https://www.severstal.com/eng/media/news/document4241.phtml
11.02.2011
OAO Severstal (“Severstal” or “the Company”) (LSE: SVST; RTS: CHMF), one of the world’s leading integrated steel and mining companies, announces today that as a result of capital market conditions Nord Gold N.V. (“Nordgold”), a gold producer and a wholly-owned indirect subsidiary of Severstal, has postponed an initial public offering and listing of its ordinary shares.
Nordgold has rapidly grown into an established pure-play gold producer focused on emerging markets with strong fundamentals and is a growing contributor to Severstal’s financial results. Nordgold will continue to develop its business and the Company is confident that given its strong fundamentals Nordgold will meet its growth targets.
I agree, this is good for HRG in the end.