Rus News Journal

Investors have not tried out Rosinter

the Last IPO the Russian companies of a consumer sector pass not too successfully. Did not become an exception and placing of restaurant holding Rosinter : yesterday the company has placed hardly less than 26 % of actions in RTS on $32 for a paper at a price band of $31 - 43. To in total shareholders Rosintera during IPO it was possible to gain $100 million instead of expected $125 million, and capitalisation of the company after dopemissii on $60 million will make $380 million
During IPO Rosinter has placed 25,97 % of actions on $32 for the action that is closer to the bottom border of the established price band ($31 - 43). The placing volume has made $100 million, more the company will involve $60 million after placing in a course dopemissii actions on the closed subscription which will be redeemed by existing shareholders through company RIG Restaurants Limited. Capitalisation of the company after dopemissii will make $380 million Auctions by actions Rosintera In RTS have begun on Friday. As the organizer of placing has acted the Renaissance the Capital .

According to the basic shareholder Rosintera Rostislava Ordovsky - Tanaevsky - Blanko, during placing the book of demands at the price of $32 was perezapolnena twice. as a whole we remained are happy IPO as in a situation when the market falls, could and drop out at all of a price band - it explains. In connection with an adverse situation in stock market shareholders Rosintera have decided to reduce and quantity of actions in the free reference - from 28,6 % to 26 %, the mister Ordovsky - Tanaevsky - Blanko tells. Earlier shareholders expected to involve about $125 million Following the results of placing a share of the mister Ordovsky - Tanaevsky - Blanko will be reduced from 85,83 % to 61,292 %, a share minoritariev (managers of the company) - from 14,16 % to 12,73 %.

Open Society Rosinter Restorants Holding It is based in 2004 by Rostislavom Ordovsky - Tanaevsky - Blanko. Unites networks IL the Patio a land Planet the American bar and a grill Moka Loka 1 - 2 - 3 cafes . On a franchise develops networks T. G I. Fridays and the Siberian crown . Includes 192 restaurants (38 - franchajzingovye) in Russia, in Ukraine, in Belarus, Kazakhstan, Czechia, Hungary and Latvia. The consolidated gain in 2006 on MSFO - $218,6 million, EBITDA - $26,2 million, a debt/ EBITDA - 2,7. Restaurants Rostik ` with - KFC from the end of 2005 are allocated in the separate company, at owner KFC Yum! Brands there is an option for the repayment of 100 % of its actions in 2011 - 2013.

last placings of the Russian companies of a consumer sector have passed not too successfully. To developer division of holding Martha RTM and a retail network Diksi It was necessary to reduce a price band on the eve of closing of the book of demands, and the group PEAK the day before yesterday has hardly taken place on the bottom border of a price band. An analyst Uralsiba Anton Tabah explains unsuccessful placings of these companies by the general condition of stock market. By estimates of analysts Antanty - the Capital from April, 26th till May, 30th RTS index has fallen to 16 %. There is a big outflow of money to other developing countries - mister Tabah argues. He also pays attention to great volume of placings of the Russian companies this year: in 2006 volume IPO of the Russian companies has made $17 mlrd (of them a consumer sector - $903 million), this year - already $22 mlrd (a consumer sector - $1,4 mlrd). And in the beginning of this year was very large two placings - VTB and the Savings Bank where investors have enclosed the basic means - he specifies.

analyst Deutche Bank Alexey Krivoshapko considers that $380 million - Good capitalisation for ` Rosintera ` if to consider a condition of stock market and financial indicators of the company : At ` Rosintera ` some more years will not be good indicators on net profit (the forecast for 2007 - $0,78 million, 2008 - j - $12,4 million - ) . The Vice-president of fund Trust Private Equity Fund Andrey Zubkov considers that fair cost Rosintera - $350 million