UralKaliy, potassium maker of Perm Region, decided not to go through with the public offering of its shares at London Stock Exchange. The shareholders feel it is impossible to get the adequate response from the potential investors at present.

The decision to offer up to 29% of the company’s authorized capital (that is, no more than 616,073,100 ordinary shares) was initially made at an extraordinary general meeting in August 2006. The Federal Financial Market Service gave the company permission to place up to 29% of its shares abroad on September 21, 2006.

The company declared the public offering scheme on September 25, 2006. It decided to offer 442,772,876 ordinary shares in the GDR format and plain ordinary shares. The preliminary price range was set at $10.25 to $12.25 per GDR and at $2.05 to $2.45 per ordinary share.

Meetings with the prospective investors from the leading global financial institutes indicated that the company’s shares were expected to enjoy great demand. Yet it turned out to be impossible to offer the shares at the original prices (which the company believes to be fair). This is why the shareholders decided to back out of the public offering, reports the spokesperson for UralKaliy.