IPO hopeful Rustranscom valued at as much as $1.6 bln-VTB Capital in Russia

VTB Capital, some of the banks working on rail freight community Rustranscom’s preliminary public providing (IPO), has valued the business at $1.363-1.605 billion, a VTB file on the list viewed by using Reuters on Thursday showed.
Rustranscom noted on April 1 it changed into planning to record its international depositary receipts on the London inventory trade in what may be the first preliminary public providing by a Russian company for the reason that 2017.

Rustranscom plans to observe for LSE admission in may and offer round $300 million price of in most cases basic shares. Proceeds from the offering will be used to expand the enterprise, the company stated.
credit score Suisse Securities constrained, J.P. Morgan Securities, Sberbank CIB restricted and VTB Capital are appearing as joint global co-ordinators and joint bookrunners for the deliberate IPO, whereas Societe Generale is appearing as joint bookrunner.
in the document, VTB Capital mentioned Rustranscom was the fourth biggest Russian rail operator and the greatest in grain, mineral fertilisers and bushes shipments. (Reporting with the aid of Gleb Stolyarov and Olga Popova; writing by way of Vladimir Soldatkin. editing by Jane Merriman)