TransContainer, the freight division of Russian state-controlled monopoly Russian Railways, has set the price of its initial public offering at $80 per share, at the lower boundary of the $79-99 price range, TransContainer said on Tuesday.The price of global depositary receipts is set at $8 per security.
This values the company at $1.32 billion, the company said in a statement.
TransContainer is floating a 35 percent minus two shares stake at its IPO in Moscow and London, with foreign investors being offered 17.9 percent of the company.
Russian Railways also plans to sell 75 percent of Hong Kong-based subsidiary Freight One, valued at $5-billion, and hopes to prepare another operator, Freight Two, for an IPO in two years.
MOSCOW, November 9 (RIA Novosti)