Rusnano plans to privately place 10% of shares in Nov-Dec
MOSCOW. March 14 (Interfax) - OJSC Rusnano plans to have a private placement of 10% of its shares in November or December, the company's deputy general director, Oleg Kiselev, told the press.
The placement organizers will be Merrill Lynch and VTB Capital, he said.
Right now, PriceWaterhouseCoopers (PwC) is performing due diligence on all Rusnano projects, which it plans to finish up this summer, Kiselev said. As of March 13, Rusnano had confirmed 145 projects with an overall budget of 568.5 billion rubles, including co-financing on the part of the company in the amount of 239.8 billion rubles.
Plans are that shares from an additional issue will be sold.
Rusnano plans to raise capital from both Russian and foreign investors, Kiselev said.
"We would like it if among our shareholders in the future there were authoritative, world-class international or national financial structures associated with state money, and also totally private money independent of any government. Yet another proportion is possible - a balance between financial organizations and technological structures," Rusnano chief Anatoly Chubais said in a recent interview with Interfax.
Chubais said that the private placement is important to Rusnano as a step towards transforming the company towards full-fledged work on capital markets.
"In the future, we intend to attract private funds, and that means that private shareholders will appear and grow with us in Rusnano, and the government's stake will decrease. That 10% of shares planned for placement this year is seemingly not much. But it is hopping into water we've never swum in," Chubais said.