Ukrainian construction company T.M.M. that implements projects of business class and higher, has made an initial public offering (IPO) at the Frankfurt stock exchange.

As a result, 13.11 pct of the company’s shares were sold for USD 105 mln, and the total company’s capitalization reached USD 800 mln.

As to the Concorde Capital investment and banking services department director Oleksandr Omelchuk, the T.M.M.’s shares have been purchased by investors from the Western Europe and North America.

The shares price has grown up in the listing from EUR 11.45 to EUR 11.7 per share.

The T.M.M. director general and prime stockholder Mykola Tolmachov stated that the company’s objective was to reach capitalization of USD 5-7 bln in 3-4 years.

According to Omelchuk’s assessment, by the end of 2007, the capitalization of T.M.M. will make USD 1.2 bln.

Tolmachov said that in the near future his company will sell more 20 pct of shares to investors.

The source: Rynok.biz