Evraz plans doubling
Holding plans to increase free - float to 25 % of the actions
the Largest manufacturer of hire and a steel Evraz grup intend to increase twice almost quantity of the actions in the free reference - with 14,3 to 25 % in the nearest two - three years. Considering that for this purpose the company is not going to spend dopemissiju, most likely, the part of actions should be offered to someone from present shareholders of the company. It it can bring from 900 million to 1,8 mlrd dollars
Finishing in the nearest two - three years free - float (quantity of actions in the free reference) to 25 % of actions is our strategic problem - the first vice-president " has informed yesterday; Evraz Grup the financial director of group Pavel Tatjanin. As he said, the company does not plan for this purpose additional issue of actions. Representatives Evraza Did not begin to detail the plans, having noticed that the given parametres are put in intermediate term strategy and about steps on their realisation to speak while prematurely.
however, anyway the increase in quantity of actions in the free reference will be accompanied by decrease in a share someone from present shareholders. Analysts result different figures with which representatives " can operate; Evraza if their dreams are embodied in a reality. now capitalisation Evraz - holding makes an order 6,8 mlrd dollars - analyst IFK " notices; Solid Igor Nuzhdin. By its calculations, the planned increase free - float can bring the companies to 1,8 mlrd dollars Additional 10,7 % of actions can cost about 900 million dollars - Vladimir Popov from IK " considers; Antanta the Capital . By its estimation, holding capitalisation comes nearer to 8,8 mlrd dollars
On - to a miscellaneous participants of the market and experts estimate necessity of increase in a share of actions Evraza in the free market. the company deliberates for a long time already over merge or acquisition of any active, - general director Hatch - RBS Alexander Liberov has told daily, - and the additional billion will help them . The expert Perhaps, argues, additional actions is just that superfluous element which does not suffice for participation in the similar transaction.
however, increase free - float not a unique strategic problem for the company. The president of group Valery Khoroshkovsky has added that for Evraza an overall objective is efficiency of activity of the company, and also occurrence of the company till 2010 in the five of the best companies of the world on the profile.
Eāšąē already enters in conducting world to ten steelmaking companies - Igor Nuzhdin marks. In its opinion, at the expense of organic growth to enter into the first five hardly it will turn out. Acquisitions for which account there will be a growth of volumes of output are necessary. As he said, some have apprehended occurrence of structures of Abramovich just on a case of participation in the big transaction which will automatically integrate holding. As Vladimir Popov assumes, any Indian company can be such active for association.
Alexey SADYKOV, MICHAEL FADEEV
Evraz - the largest metallurgical company of Russia uniting metkombinaty, zhelezorudnye and coal actives in Russia, Italy, Czechia, Southern Africa and the USA, and also Nahodkinsky sea trading port. The basic shareholders: Millhouse Capital (41 %), chairman of board of directors Alexander Frolov, eks - the president Evraza Alexander Abramov. Group net profit on MSFO in the first half of the year 2006 - 571 million dollars (the first half of the year 2005 - 612 million dollars) A gain in January - June, 2006 - nearby 3,9 mlrd dollars (January - June, 2005 - more than 3,6 mlrd dollars), EBITDA for the six first months 2006 - 1,09 mlrd dollars (the six first months 2005 - 1,11 mlrd dollars).