IPO of RZD's Subsidiary "Transcontainer"

Container subsidiary of RZD Transcontainer will start road-show of public offering of 35 per cent of shares in October- November 2010, said a representative of the company's management. The Board of Directors of the railway monopoly approved the sale of shares in April 2010.
 

Transcontainer may cost $ 1,7-2,1 bln, 35 per cent of the shares are worth $ 595-735 million. Shares of Transcontainer will be placed in London and in Russia, banks-organizers have not yet been appointed. In 2008 RZD sold through private placement 15 percent of Transcontainer and remained a controlling stake of 50 per cent plus one share. 

Transcontainer is a transportation company specializing in container transport logistics. Currently 84.9 per cent of stake belong to RZD, 9.2 per cent - to the European Bank of Reconstruction and Development (EBRD), the rest belong to Russian and foreign investment funds. 

Revenue of Transcontainer IFRS in 2008 grew by 53 per cent to 20.5 billion rubles, net profit - 85 per cent to 3.57 billion rubles.

Nat Lawyer

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