Russian meat producer Cherkizovo has recently announced that it will postpone the sale of its shares on the Moscow Stock Exchange due to high volatility in the securities market, according to the company's press release.
The company wants to increase the liquidity of its shares by placing them on the Moscow Stock Exchange. According to its statement, the company will continue to closely monitor the development of the situation in the capital markets.
"Feedback from the market to date has been positive and confirms interest from the investors," Sergei Mikhailov, CEO of Cherkizovo, said. "However, the current market conditions can significantly affect the success of the offering, despite the strong fundamentals of our business."
"We will, therefore, continue to monitor the development of the situation of the capital markets, aiming for an appropriate time to launch our offering against a more constructive market backdrop where investors can better focus on Cherkizovo's compelling story."