Russia's largest airport, Moscow-based Domodedovo, has postponed an initial public offering (IPO) due to the weak market, it said on Monday.
"Company management and its shareholders believe that the offer cannot be valued at the real company value given current market trends," Domodedovo said in a statement. The airport declined further comment.
In April, media said the company which owns Domodedovo planned to sell 20-25 percent of its stock for $1 billion in an initial public offering this year to protect the business from possible nationalization.
The government had proposed a plan to unify Moscow's three airports of Domodedovo, Sheremetyevo and Vnukovo in one air hub and gain control over it.
MOSCOW, May 30 (RIA Novosti)