Rusnano still plans to sell 10 percent of shares to investors in 2012 and expects the proceeds to be reinvested in the company, chief executive Anatoly Chubais said in an interview with Interfax.
"I had a very detailed conversation on this topic with the prime minister. His position, as I understand it, is this: For the government, Rusnano is not an instrument for bolstering the budget, but an instrument for creating a nanotech industry," Chubais said.
Rusnano held a tender and selected a consortium of Merrill Lynch and VTB Capital to arrange the sale, Chubais said in the interview published Wednesday.
"One [bank] is responsible for the world and the other for Russia," Chubais said.
"The 10 percent of shares that we plan to place this year does not seem like much. But this is a jump into waters that we have not swum in before," he added.
As of October 1, 2011, Rusnano had approved financing for 128 projects with a combined budget of 501 billion rubles ($16.6 billion), of which its share was 213 billion rubles, Interfax reported.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
