Helicopter IPO Now in 2012

May 13, 2011

Russian Helicopters, which called off its initial public offering on the London Stock Exchange on Wednesday, plans to make another attempt next year.

The offering attracted the interest of almost 130 funds and banks, but investors wanted the company to lower the IPO price range, Russian Helicopters chief executive Dmitry Petrov said Thursday.

Andrei Reus, chief executive of parent company Oboronprom, said investors were waiting for a discount. "The markets were asking for a price 11 percent below the low end of the IPO price range," he said.

"We cannot allow Russian Helicopters to be undervalued. We will definitely do this IPO," Reus said.

(Interfax)

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