Russia Severstal-Avto plans IPO of 30 pct capital

Newswire

MOSCOW, March 28 (Reuters) - Russian holding Severstal-Avto which controls off-road vehicle maker UAZ and the Zavolzhsk engine plant, plans to float 30 percent of its capital in an initial public offering, Severstal-Avto said in a statement. The statement said institutional investors would be offered 8,940,047 shares in the IPO. Ulyanovsk makes rough terrain vehicles which are sold throughout Russia. Spokeswoman Zoya Kaika said the shares would come from Severstal-Avto's main shareholder ...

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