Report: VTB Capital values Rustranscom at $1.6 for IPO on LSE

MOSCOW, Apr 12 (PRIME) -- VTB Capital, one of the banks working on rail freight group Rustranscom’s initial public offering (IPO) on the London Stock Exchange (LSE), has valued it at U.S. $1.363–1.605 billion, Reuters reported late on Thursday, citing a report by the bank.

If successful, Rustranscom’s IPO will be the first floating by a Russian firm since 2017.

Rustranscom plans to apply for LSE admission in May and offer around $300 million worth of mostly new shares. Proceeds from the offering will be used for expansion, the company said.

Credit Suisse Securities Limited, J.P. Morgan Securities, Sberbank CIB Limited and VTB Capital are acting as joint global co-ordinators and joint bookrunners for the planned IPO, while Societe Generale is acting as joint bookrunner.

In the report, VTB Capital said Rustranscom was the fourth largest Russian rail operator and the largest in grain, mineral fertilizers and timber shipments.

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