UPDATE 1-Russian rail operator Globaltrans plans London IPO

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MOSCOW, April 4 (Reuters) - Russian rail operator Globaltrans Investment said on Friday it planned to hold an initial public offering (IPO) of its global depository receipts on the London Stock Exchange.

The firm said in a statement that the offering would represent about 30 percent of its shares.

Globaltrans, Russia’s second largest rail freight operator after Russian Railways, said it would use the proceeds from the IPO to fund its current capital expenditure programme for 2008, including the purchase and lease of additional rolling stock.

“I am confident that the planned offering will give us greater access to capital and enhance our opportunities for growth and value creation at this very exciting time for the industry,” said the chief executive of Globaltrans, Sergey Maltsev.

The firm said Deutsche Bank has been appointed as global coordinator, while Deutsche Bank and Morgan Stanley will serve as joint bookrunners for the offering.

Globaltrans provides rail freight transport and logistics services in Russia and Ukraine, focusing mainly on transportation of metals, oil and oil products.

The group’s operating profit was $127.6 million in 2007, up from $76.8 million in the previous year. (Reporting by Tanya Mosolova; Editing by Paul Bolding)