Russian and World NewsIPO “ Rosneft “ will cut down twice
the CALL CUP
the Authorities can make decision to place on the market only a part of actions “ Rosneft “ belonging “ Rosneftegazu “. Thus, volume IPO of the company should make a maximum $10 billion The matter is that own debts which also were supposed to be extinguished earlier at the expense of IPO, “ Rosneft “ intend to pay itself.
the British newspapers The Sunday Times and The Financial Times referring to not named advisers on IPO “ Rosneft “ have informed that the placing volume can be reduced from $15 - 20 mlrd to $10 billion Under their data, the government plans to place actions “ Rosneft “ only for repayment of debts of a state company “ Rosneftegaz “ (it posesses 100 % a minus one action “ Rosneft “ One more action is in the property of Rosimushchestva) at a rate of $7,6 billion in Summer of last year “ Rosneftegaz “ took the credit for this sum for purchase of actions “ Gazprom “ within the limits of liberalisation of a securities market of gas monopoly.
the vice-president “ Rosneft “ Peter About ` Bryan has refused to make comments “ to Money “ company plans on volume IPO. At the same time he has noticed that for the last half a year financial indicators “ Rosneft “ have improved. “ the company now in a good financial condition, rates under the involved credits are reduced three times, oil recovery grows rates advancing branch, operational indicators improve “ - the mister About ` Bryan has declared. By data “ Money “ in this connection “ Rosneft “ Found possible to pay off with the debts (for January, 1st, 2006 they made $10,968 mlrd), without resorting to public placing of actions.
now during placing “ Rosneftegaz “ will lose a maximum about 17 % “ Rosneft “ (at placing of actions on $10 mlrd) - in case actions will manage to be placed according to an estimation of the consolidated company (Deloitte and Touche has estimated it in $57 mlrd). 11,85 More % of actions of the petrocompany “ Rosneftegaz “ will lose after consolidation of affiliated companies “ Rosneft “ which will take place after placing. Thus, a state share in “ Rosneft “ after IPO and consolidations will make a minimum of 70 %.
REPLACEMENT “ Cherkizovo “ Changes horses on a crossing last week scandal round primary placing of actions (IPO) one of the largest agroholdings of Russia - groups " has burst; Cherkizovo “. For two weeks prior to the beginning of placing the structure of its organizers was half replaced. The first the syndicate has left Morgan Stanley. Then it left IK “ the Three Dialogue “ and its place has occupied “ Uralsib Kepital “.
this week placing of 26 % of actions of holding " should take place; Cherkizovo “ at the London stock exchange and at the Russian stock exchange of RTS. However it is literally for two weeks before structure of organizers has essentially changed. All has begun bank Morgan Stanley with an estimation of business of the company. It has appeared at level of $500 - 600 million that is considerable, more than twice, dispersed from estimations of other members of syndicate - “ the Renaissance the Capital “ Gazprombank and IK “ the Three Dialogue “. The participants of the market familiar with the transaction, have assumed that in Morgan Stanley have decided to make secure to save potential investors from possible falling of actions of holding after carrying out IPO. The matter is that the investment bank had recently a bitter experience of carrying out IPO of company Trader Media East (the owner of some the Russian printing editions) when later half-month after stock quote placing have failed almost on 30 %. Now Morgan Stanley has preferred to leave syndicate.
as has solved and “ the Three Dialogue “ which have not given more “ comfortable “ conditions of participation in placing after an exit of the American investment bank. For the first time in a short history Russian IPO there were so radical changes among organizers of release. And the place " is literally some days before planned placing; Three Dialogue “ has occupied “ Uralsib Kepital “. Organizers of release and the emitter are assured of success of placing of papers “ Cherkizovo “. However, they cannot make comments on officially forthcoming transaction - on it the interdiction operates up to the termination of placing of actions.
ON THE HOME FIELD VEFK continues buying up of actives of MDM - bank MDM - the bank finishes the transaction on sale of the affiliated bank in Petersburg to the structures under control to the president East - the European financial corporation (VEFK) to Alexander Gitelsonu. For last three years this Petersburg businessman redeems at MDM - bank already the fourth “ a daughter “.
last week GU the Central Bank across St.-Petersburg has co-ordinated the transaction on MDM sale - bank “ MDM - bank St.-Petersburg “. As the buyer the structures under control to the president East - the European financial corporation (VEFK) to Alexander Gitelsonu have acted. This information have informally confirmed in one of the banks participating in the transaction. Officially the parties do not make comments on the fact of sale of MDM of SPb. “ by my calculations, the sum of transaction makes $60 - 70 million “ - confirms a source in financial circles of Petersburg, familiar with a course of negotiations. Other banker is assured that in the near future in MDM of SPb there will be personnel shifts: “ Vitaly Ryabov, in the past the director of the Petersburg branch of Alpha bank, and nowadays president Ruskobanka, mister Gitelsona entering into corporation " becomes the Head of this bank after change of the proprietor, most likely;.
MDM of SPb - already the fourth active of MDM - bank which is got by mister Gitelson for last three years. At first he has redeemed at MDM - bank Vyborg - bank and Inkasbank. Actually, on termination of these transactions also has appeared VEFK. In the middle of 2004 it has continued group expansion, having received control over Ural trastovym the bank also belonging to MDM. By the way, Alexander Gitelsona name among bank founders “ Petrovsky “ which after its purchase by MDM structures has been renamed into MDM of SPb. Practically all bankers interrogated yesterday are assured that a following active of which MDM will soon get rid, becomes “ MDM - bank Ural Mountains “. They do not exclude that Alexander Gitelson becomes the buyer and this bank.
From the MIDFIELD Gallery Group the operator of the Russian market of outdoor advertising Gallery Group will occupy $150 million Second-large after News Outdoor declared preparation for release of eurobonds for the sum $150 million It is the record size of extra means which when - or were involved with participants of the market of outdoor advertising.
in the form of priority debt bills company Gallery Capital SA has made the Demand for release of eurobonds at the Luxembourg stock exchange. According to news agency Bloomberg, the approximate sum of the offer makes $150 million Organizer of placing acts Citigroup. Eurobonds will be guaranteed by the companies entering in Gallery Group. Chairman of board of directors Gallery Group Anatoly Mostovoj has informed that road - show the companies will begin 3 - go and will end on May, 9th. The means involved by means of eurobonds will be partially directed Gallery Group on repayment before the taken credits, and also for acquisition of operators of the market of outdoor advertising. “ something we will spend for purchases, including in those cities where we now do not work, something - on capital investments into new designs “ - Anatoly Mostovoj has declared.
It is remarkable that Gallery has dared at release of eurobonds in difficult for the Moscow market of outdoor advertising the moment. In the middle of 2006 expires period of validity of lease contracts of advertising designs at the majority of operators of the capital market “ naruzhki “ including at most Gallery. However the government of Moscow did not declare till now, on what conditions it intends to prolong these contracts. Having appropriated bonds Gallery a rating In - agency S and P has noted among risks “ the uncertainty caused by a difficult and opaque management system of Russia “.
However, experts are assured that securities Gallery will interest investors.
the FINAL WHISTLE “ Oil “ in the dry rest last week the licence at bank " has been withdrawn; Oil “. However, event it was expected: The owner of bank is wanted, the chief accountant is arrested, and the bank has informed recently on the voluntary liquidation. Thus, “ Oil “ became the third bank which passed in system of insurance of contributions and has lost the licence.
last week the Bank of Russia has informed on licence withdrawal from bank “ Oil “. Numerous infringement by law bank " became the reason of this decision as it is informed in a press - Central Bank release; About counteraction to legalisation (washing up) of the incomes received by a criminal way, and terrorism financing “. “ Oil “ broke terms of granting of the information in Federal Agency of financial monitoring, and also badly carried out identification of clients. The Central Bank also notices that “ the analysis of a financial condition of bank has shown sharp decrease in its business activity and increase of negative tendencies in its activity since December, 2005 “.
And after all in September of last year any doubts at the Central Bank in a financial condition “ Oil “ was not: the bank has been accepted in system of insurance of contributions. However in December of last year the post of the chairman of board of directors of bank was left by a member of political council of Union of Right Forces Boris Nemtsov. The reason of it, as he said, became “ necessity to exclude any political risks in business of my friend Igor Linshitsa (head and the owner of concern ` Oil `. - ` money ` ) “. However Boris Nemtsov`s leaving from bank has not helped Igor Linshitsu: in January of this year the State Office of Public Prosecutor has put him on the wanted list on the case of illegal bank operations. In February has been arrested the chief accountant “ Oil “ Natalia Frolov, and the bank has temporarily suspended reception of contributions of physical persons. In the middle of April, 2006 in bank “ Oil “ have declared that possibilities for the further development are not present, and have made the decision on voluntary liquidation. But in the Central Bank with it have disagreed and have withdrawn the licence violently. Thus, bank “ Oil “ became the third bank which entered after careful check of the Central Bank in system of insurance of contributions and has lost after that the licence.