Severstal does not need funding

Russian steelmaker Severstal does not require additional funding, despite the cancellation of the IPO Nord Gold. This was stated by Chief Strategy Officer of Severstal Andrei Laptev, reports Reuters. "Our goal (during the IPO) was to get more value," - he said. As you know, earlier Nord Gold IPO postponed due to market conditions. The company intends to concentrate on developing existing assets and new deposits. Now she intends to concentrate on developing existing assets and new deposits. OAO Severstal has assets in Russia, North America, Europe and Ukraine. The main beneficiary of the company is its chief executive Alexei Mordashov, who owns more than 82% of shares in free float is about 18%. Ministry of Industry