OREANDA-NEWS. October 13, 2010.   OJSC Transcontainer, subsidiary to Russian Railways (RZD), has officially revealed a plan to hold an IPO. “The offering is to cover only the company’s existing common shares and GDRs, if the company gets a relevant authorization. GDRs are to be listed in the LSE, and shares are to trade on the RTS and the MICEX”, the company reported.

The issue arrangers are J.P. Morgan, Morgan Stanley and Troika Dialog; TKB Capital is the underwriter. On October 5, the Russian government authorized RZD to sell off of 35% less 2 shares in Transcontainer, which corresponds to 4 863 170 common shares, at above the market price as defined by an independent assessor. The controlling stake in the company is to stay with RZD, which should sustain the company’s development, the RZD president, Vladimir Yakunin said.

The general director of Transcontainer, Petr Baskakov said in his turn that Transcontainer would both keep on perfecting container transport services and master combined logistical solutions. The RZD BoD adopted the IPO of 35% of the company shares in April 2010. The selling shareholders include Transcontainer itself, RZD, and, possible, minority holders: Moore Transcontainer and GLG Emerging Markets Fund Special Situations Fund or its affiliates.