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Russia's Sovcomflot placement pushed back due to mkt conditions - source
June 15, 2017 / 3:20 PM / 5 months ago

Russia's Sovcomflot placement pushed back due to mkt conditions - source

MOSCOW, June 15 (Reuters) - A placement of shares in Russian state shipping company Sovcomflot had been planned for this week but was put on hold due to market conditions, a source familiar with the situation told Reuters on Thursday.

The source did not say when the placement of a 25 percent stake in Sovcomflot, planned under a state privatisation programme, would now happen. Sovcomflot declined to comment.

Two financial market sources told Reuters late in May that the deal was expected in early June. It was later postponed with no explanation.

The Russian stock index slipped below the important psychological mark of 1,000 points for the first time since late November 2016 on Thursday on concerns about new United States sanctions against Moscow, making plans for equity raising by Russia cloudy. (Reporting by Moscow Newsroom; Editing by Christian Lowe)

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