July 19, 2011 / 1:56 PM / 9 years ago

Russia's Domodedovo ditches plans for IPO in 2011

* Will not offer shares in 2011 after unsuccessful attempt

* Airport was under state scrutiny after black-out, bombing

* Declines to comment on shareholder structure

MOSCOW, July 19 (Reuters) - Domodedovo, operator of Russia’s largest airport, will not float its shares in 2011 after a failed attempt to tap the market in May, its chairman said on Tuesday.

DME Ltd had planned to sell about 20 percent of its existing shares in a London initial public offering (IPO) that could have raised between $700 million and $1 billion for the airline tycoon, sources had told Reuters.

“We are not discussing (an IPO) now but do not rule out it in future. We have no rush to refinance our debt,” Dmitri Kamenshchik told reporters.

Kamenshchik, ranked Russia’s 86th-richest man with a net worth of $1.1 billion by Forbes magazine, was named a beneficial owner of 100 percent stake in DME, the firm has said in its documents related to intention to float.

Analysts have said that potential investors in a Domodedovo IPO might have been put off by political risks the company faces following a suicide bombing at the airport in January that killed 37 people.

That sparked a state probe into the ownership of the airport, which was already on the radar of the authorities after power cuts in December caused transport chaos. (Reporting by Gleb Stolyarov, writing by Katya Golubkova; Editing by Hans-Juergen Peters)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below