Yevgeny Chichvarkin, the company's chief executive, said in April 2006 that Euroset, Russia's largest cell phone retailer, could hold an initial public offering (IPO) in late 2006 or early 2007.
"We do not give up our plans for the initial share placement, but there is no urgent need for that," Timur Artemyev, a member of the Euroset Board of Directors said.
Artemyev said the sum the company intends to raise during the IPO is sufficient for stock liquidity and does not proceed from the company's requirements.
In January-March 2007, Euroset sold 3.1 million mobile handsets, up 35% against the same period last year, and 3.1 million SIM cards for cellular operators, down 8%, year-on-year.
By the end of this year's first quarter, the company had 5,156 outlets, including 4,101 in Russia.
Founded in Moscow in 1997, Euroset later entered regional and international markets. It diversified into the non-mobile business by selling foreign-made electronics, including digital cameras, CD and MP3 players. Euroset reported revenues of about $2.2 billion in 2005.
