Uncertainty over a possible Brexit and the state of the global economy could push Sovcomflot’s initial public offering into 2017, its president says.

Sergey Frank told Bloomberg television the company needs to find a window of opportunity to complete a long-awaited shares sale.

“At the moment what is slightly worrying us is there is a strong headwind,” he said in an interview at the International Economic Forum in Saint Petersburg.

“Fundamentally,