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)
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.
