Amtel to list 40 per cent of shares

Amtel plans a foreign listing of up to 40 per cent of its shares in October next year. Amtel controls a third of the Russian tyre market. The company expects a capitalisation of around 500 million US dollars.

Amtel is considering buying a plant in Iran and is looking at expanding in Malaysia. Meanwhile an agreement with Nokian is being dissolved, though the final arrangement between the two has not yet been confirmed. .