Yevgeny Utkin said, "We plan to hold an IPO in 12-15 months. A trading floor has not yet been chosen - either London or New York."
Utkin said Sitronics was negotiating with the European Bank for Reconstruction and Development on the EBRD's potential purchase of a stake in the company for $80 million.
"On July 24 the EBRD board of directors will meet, and make an official decision on buying a stake in our company," he said.
Sistema Board Chairman Vladimir Yevtushenkov said earlier that Sistema might sign an agreement with the EBRD on selling a 5-10% stake in Sitronics by the end of the year.
Sitronics announced earlier in the day that it had closed a 120 million euro ($150 mln) deal to buy a 51% stake in Greek company Intracom Telecom.
Sitronics was established in May 1997. Its companies deal with telecommunications equipment, software production and security system introduction.
