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Russia's Aton to hold IPO by 2015

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Russia's investment group Aton plans to hold an initial public offering by 2015 and have capitalization of $1 billion, Aton CEO Andrei Shemetov said on Wednesday.

Russia's investment group Aton plans to hold an initial public offering by 2015 and have capitalization of $1 billion, Aton CEO Andrei Shemetov said on Wednesday.

"Our goal remains the same, we want to hold an IPO by 2015 with capitalization of $1 billion," Shemetov told Gazeta.ru internet newspaper.

The group's clients are second and third tier companies. "We have our niche and we plan to widen it," he said.

Shemetov told the newspaper that Aton staff's remuneration was higher than generally in the industry.

"We pay higher bonuses to our staff than the market average, because Aton is in a growth stage. For the front-office, we have worked out one of most aggressive renumeration policies," he said, adding that renumeration in the finance industry did not always agree with common sense.

"Renumeration can be considerably higher than any logical explanation. People's expectations correlate very little with the real state of affairs on the market," Shemetov said.

MOSCOW, February 16 (RIA Novosti)

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