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Opin IPO Planned for 2012

Mikhail Prokhorov's real estate developer Open Investments, known as Opin, aims to hold an international share listing in 2012.

The company will invest more than $680 million into new construction and seeks to raise net asset value to $2 billion by 2015.

The company, which builds townhouses in Moscow suburbs, wants to expand into commercial real estate and apartment complexes, chairman Dmitry Razumov said last week. Opin seeks to double its net asset value to $2.15 billion by 2015 from $1.05 billion as of year-end 2010, according to a presentation distributed to reporters.

(Bloomberg)

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