11 Apr 2024 15:36

Siluanov believes that privatization of DOM.RF state corporation is possible via IPO

MOSCOW. April 11 (Interfax) - Russian Finance Minister Anton Siluanov considers the option of privatizing the DOM.RF state corporation via an IPO realistic.

JSC DOM.RF, a financial institution for development in the housing sector, was created in 1997 by a Russian Government decree to facilitate the implementation of state housing policy.

"DOM.RF is a realistic option. However, this will not be a sale, but an additional issue," Siluanov said in an interview with Interfax, clarifying that it would be via an IPO.

The state corporation's general director, Vitaly Mutko, considered the possibility of using an IPO to create additional capitalization for DOM.RF in 2021.

"We do not exclude an IPO as a source of additional capitalization. However, given the special status of DOM.RF, we must weigh everything very carefully. I don't think this is a medium-term task," Mutko said in an interview with RBC.

The IFRS net profit of DOM.RF totaled 47.2 billion rubles in 2023, an increase of more than 50% over the previous year. The group's assets exceeded 4 trillion rubles, while its own funds totaled 328 billion rubles.