Free-float of USC may be 30%, Corp.’s head says
If Russian Govt gives the green light to privatization of United Shipbuilding Corp., it would be appropriate to sell at the first phase a 12-15% state stake in the company, the Corp.’s head said Wednesday.
USC’s President Roman Trotsenko told reporters at IMDS-2011 in St. Petersburg that the state-run corporation's IPO may show how the market will react. In the future, he added, the free float of USC might be around 30%.
The Corporation’s revenues for 2010 totaled RUB 138 billion. "We will hold an appropriate IPO», said Mr. Trotsenko.
United Shipbuilding Corporation, founded in 2007, incorporates three regional shipbuilding centers: JSC Western Shipbuilding Center (St. Petersburg), JSC Northern Center of Shipbuilding and Ship Repair (Severodvinsk), JSC Far Eastern Center of Shipbuilding and Ship Repair (Vladivostok), as well as leading marine design offices. United Shipbuilding Corporation also has a 50% stake in Arctech Helsinki Shipyard, a joint venture with STX Finland Cruise Oy.
