January 29, 2018 / 1:53 PM / 7 months ago

Russian pipe maker TMK's U.S. subsidiary says begins IPO

MOSCOW, Jan 29 (Reuters) - IPSCO Tubulars, the U.S. subsidiary of Russia’s largest maker of steel pipes for the oil and gas industry TMK, said on Monday it launched an initial public offering (IPO) of its common stock.

The company said it will sell 7,441,860 shares while parent company and selling stockholder TMK will sell 15,813,953 shares.

In its statement, IPSCO said it anticipated an initial offering price set between $20 and $23 per share. (Reporting by Polina Devitt; Writing by Polina Ivanova; Editing by Vladimir Soldatkin)

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