TransContainer's IPO Attracts $400 Million

The placement price per share of TransContainer in the initial public offering (IPO) announced at $80, $ 8 per GDR (global depositary receipt).While 10 GDR certify the rights in respect of one share, TransContainer reported. 


Thus, the RZD's subsidiary was placed close to the bottom of the announced range (7,9-9,9 dollars per GDR). On the stock exchanges in Moscow and London it was planned to place 5 million 2 thousand 118 existing shares of the company. Based on the offering price, TransContainer attracts a little more than $ 400 million.

"Listing in London and Moscow is an important strategic step for TransContainer, but the deal will be a milestone in the ongoing reform of the railway industry in Russia. We will make every effort to develop TransContainer as a public company and increase its shareholder value" -, the words of its CEO Peter Baskakov are given in press release. 


Start of conditional trading GDR on the London Stock Exchange is expected today. Admission to the GDR's official list of the Financial Services and Markets of the UK as well as the beginning of unconditional trading GDR on the main market of London Stock Exchange under the symbol "TRCN" is expected on November 12, 2010. 

Shares are included in the list "И" of RTS and the list "И" of MICEX Stock Exchange. Start of trading on RTS and MICEX under the symbol "TRCN" is also expected on November 12, 2010.
TransContainer was registered in March 2006 on the basis of the center for cargo transportation in containers TransContainer (Branch of RZD) with registered capital of 13.9 billion rubles.


Before the IPO RZD owned 85% minus 1 share of TransContainer, the European Bank for Reconstruction and Development (EBRD) - 9,25%, Moore Capital Management, LLC - 2,5%, GLG Emerging Markets Fund - 2,5%, Troika Dialog Investments Limited - 0,75%. Net income of TransContainer under International Financial Reporting Standards (IFRS) for the I half of 2010 amounted to 197 million rubles,  revenue - 9.94 billion rubles.