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Vladimir Yakunin, the President of the Russian Railways, informed about it. It is planned to carry out IPO of the created “daughter” at the Russian stock exchange a year later after the creation of the company, and one and a half year later - abroad, most probably, as Vladimir Yakunin said, at London stock exchange.
We remind that the events referred to the freight subsidiary company creation solve four basic tasks:
- competitive ability provision of OJSC “RZhD” freight transfer business by means of equal pay scale with other participants of freight transfer market;
- property individualization of the freight transfer to provide its transparency, the increase of financial-economical efficiency and elimination of cross-subsidization of other transfer types;
- provision of investment attraction of the freight company, the attraction of necessary resources to equipment renewal;
- possibility to sell the controlling stock (up to 49%) of the freight company by means of stock initial offer: currently OJSC “RZhD” prefers Russian stock market. It is planned to direct the capital received for infrastructure renewal of the railways transport.
- thus, we will be able to expand RZhD’s presence at the high-yielding market sectors, increase the efficiency of equipment use and also develop new technologies at the railways transport, logistics, in particular, - Vladimir Yakunin said. At the same time, the profitability and capitalization of the freight transfer companies will increase: we will receive affiliates, which will generate the revenue of some USD 3 billion and earnings before interest, taxes, depreciation, and amortization of some USD 1 billion on the whole.
Source: Press Release
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