OREANDA-NEWS. On December 29, 2008 Concern Tractor Plants N.V. (FSE: M0IG) successfully completed listing procedure on Frankfurt Stock Exchange, reported the press-centre of Concern Tractor Plants N.V.

Shares were placed in the form of global depositary receipts (GDR’s) issued by the Deutsche Bank.

Concern Tractor Plants N. V. is the holding company for the activities of the operational group companies of Concern Tractor Plants (the “Group”). The Group is an internationally operating producer in the sphere of diversified light and heavy machinery with most of its production plants located in Russia.

In their first day of trading on the Frankfurt Stock Exchange on December 29, the GDRs (1 GDR represent 0.20 share) of the Company have opened at EUR 20.0 which equals to EUR 2,5 bln.
"The Company enter the international markets has been carried out within the framework of the long-term company strategy focused on more dynamical development and attraction of resources for the main directions of activity realization, increase of a transparency and improvement of competitive items in branch", - was informed by Bolotin Michael Grigorevich, majority shareholder.

According to him, the listing was enormously important to the Company's business. He also underlined that "Having produced a listing on a stock exchange the Company acquires a reputation that has improved CTP standing with financial institutions. Thus, the Company gains the opportunity to enlarge the number of its creditors and improve relationships with the clients and the contractors.