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NefteTransService to Float in London

NefteTransService, one of Russia's largest private freight rail operators, is to float shares on the London Stock Exchange, the company said Tuesday.

NefteTransService is expected to raise about $500 million, two sources familiar with the placement said, and float around 25 percent of its shares. The company did not disclose the amount it aims to raise.

The offer is expected to be completed in the first half of 2013, the company said in a press release. A roadshow for investors is to start Jan. 28, one source said.

NefteTransService was founded in 2006 by Vadim and Vyacheslav Aminov. Last year, the company was the country's largest private railway operator, measured by the amount of cargo transported in Russia.

It handled 71.1 million tons of cargo — more than the 9.6 million tons transported by Globaltrans Investment.

(Reuters)

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