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Rail Operator Eyes IPO

Railway operator NefteTransService is preparing to float its shares in London in the first half of 2013, industry and financial market sources said, with a view to raising between $300 million and $500 million, one of the sources 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 69.6 million tons transported by freight operator Globaltrans Investment, which raised over $500 million in a share sale in July.

(Reuters)

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