Mostotrest offers shares
By Sandy Guthrie06 October 2010
Russian company Mostotrest is launching an international offering of ordinary shares held by its majority shareholder, Marc O'Polo Investments, and expects the offering to be completed in the fourth quarter of this year.
Mostotrest claims to be Russia's largest transport infrastructure construction company by revenue for works conducted in-house.
The shares will be offered to investors in Russia and to certain institutional investors outside Russia and the US in reliance on Regulation S under the US Securities Act of 1933, as amended.
The company's ordinary shares are listed on the RTS on quotation list B, and admitted to trading on the MICEX under the ticker MSTT.
It is expected that the offering will represent approximately 25% of the company's existing share capital.
Deutsche Bank, JP Morgan and Troika Dialog have been appointed as joint global co-ordinators and joint bookrunners for the offering. TKB Capital has been appointed as co-lead manager.
Mostotrest claims an estimated 7,8% market share of the Russian infrastructure construction market (excluding road repair and road maintenance works) by revenue for works conducted in-house in 2009.
Vladimir Vlasov, CEO of Mostotrest, said, "The Russian transport infrastructure construction sector is likely to continue to see major public and private investment in the coming years, and our track record and position as the country's largest transport infrastructure construction company means that we continue to be well positioned to benefit from this trend.
"Through organic growth and acquisition we have established an integrated and diversified business platform to capture value across all key segments of the market and at all stages of the construction process," he said.