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The largest bridge-building company in Russia Mostotrest announced today the results of the subscription to their shares in their initial public offering (IPO). The company's shares will be placed on the bottom of the price range - 6,25 USD / pcs. Thus, the market capitalization of Mostotrest is $1.55 billion.
The total amount received during the placement is about $388 million. 40% will be spent to purchase additional shares of the company. The remaining funds be directed for general corporate purposes, including acquisition of production facilities and equipment. The share of the company's shares in free float immediately after placement and public offering will be about 36%.
Ordinary shares of the company are listed on the "B" on the RTS stock exchange and admitted to trading on the MICEX. Start of Mostotrest's shares trading on MICEX is scheduled for today.
Joint global coordinators and joint book-runners of placing are Deutsche Bank, JPMorgan and Troika Dialog. TCB Capital is a joint lead manager.
JSC Mostotrest is the largest Russian company in the construction and reconstruction of railway, highway and city bridges and overpasses. It is the first company in the sector decided to go public.
The main shareholder of Mostotrest is the company Mark O'Polo (50,3%), which enefetsiaries are managers of the companies N-Trance, E4 Group and their partners.
In March 2008 the structures of RZD - the funds Welfare and RWM Capital - became the owners of a blocking stake (25% plus one share) of Mostotrest.
In I half of 2010 revenues of Mostotrest under IFRS amounted to 31 billion 361 million rubles. Activities of the company provide 14 branches and five subsidiaries and affiliates operating in the territory of Russia.
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