February 14, 2008 / 7:55 AM / in 9 years

Russia's Nitol Solar postpones IPO - source

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MOSCOW, Feb 14 (Reuters) - Russia's Nitol Solar has postponed its planned initial public offering in London due to unfavourable market conditions, a source on the financial market told Reuters on Thursday.

The company had set an indicative price range for its IPO at 100-130 pence a share, seeking to raise up to 150 million pounds ($298 million).

Nitol Solar, part of the privately owned chemicals company Nitol Group, plans to make silicon used in the creation of electricity producing solar panels. (Reporting by Olga Popova; Writing by Maria Kiselyova)

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