Domodedovo Eyes June IPO

May 19, 2011

DME, the holding company for Domodedovo Airport, said it plans to sell existing shares in an initial public offering in London.

The company, which is 100 percent owned by entrepreneur Dmitry Kamenshchik, might sell shares as early as in June, according to term sheets and a regulatory filing by the company Wednesday. Goldman Sachs Group, JPMorgan Chase, Morgan Stanley and Citigroup are running the offering, the statement said.

Prime Minister Vladimir Putin said March 28 that an agreement was reached to merge two state-run Moscow airports, Sheremetyevo and Vnukovo, into a single company. DME's earnings before interest, taxes, depreciation and amortization rose 62 percent last year to 12.7 billion rubles ($455 million), while sales increased 22 percent to 29.7 billion rubles, according to the statement.

(Bloomberg)

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