Russia’s United Wagon Company to float 10% in IPO

MOSCOW, Apr 17 (PRIME) -- United Wagon Company, a Russian freight car company, plans to sell at least 10% shares in an initial public offering (IPO) on the Moscow Exchange at the end of April to finance its operations and business development, the company said in a statement Friday.

Around 5% of shares on offer are new, while the remaining shares will be offered by the firm’s only shareholder, Jersey-based United Wagon Plc, which is wholly owned by Russian billionaire Alexander Nesis’ ICT Group.

VTB Capital acts as a global coordinator of the IPO, as well as a co-organizer and bookrunner jointly with Otkritie Financial Corporation.

Founded in 2012, United Wagon Company managed over 21,000 freight rail cars as of late March.

End