Details of RZD privatization plan
A 5% stake in state-owned railroad monopoly Russian Railways (RZD) is expected to be privatized through an additional share issue, Russia's Transportation Ministry said in a statement, RBC reports.
The Ministry dismissed an earlier statement by Deputy Transportation Minister Alexey Tsydenov, who said that the 5% could be sold off at an initial public offering in late 2013.
According to earlier reports, Economic Development Minister Andrey Belousov said at a cabinet meeting last week that a pilot 5% stake in RZD could be put up for sale on the market next year. The aim of this deal is to take the railroad monopoly public and unlock its market value, the Minister said at that time.
