January 25, 2013 / 9:31 AM / in 5 years

Russia's NefteTransService postpones IPO roadshow - sources

MOSCOW, Jan 25 (Reuters) - Russia’s NefteTransService, expected to issue about 25 percent of its shares in an initial public offering (IPO) on the London Stock Exchange, has delayed the roadshow for its listing, two sources familiar with the matter said on Friday.

The company, one of Russia’s largest private rail freight operators, last week announced its intention to go public in the first half of this year.

One of the sources said the roadshow had been pushed back because Russian freight data showed that the sector had hit a soft patch. It is now being pencilled in for April, after the company reports its next set of results, the source added.

Sources told Reuters last week that the company could raise $500 million and that the roadshow was to start on Jan. 28. Financial market sources said that NefteTransService was valued at $1.4 billion to $1.8 billion by one of its IPO organisers.

Brothers Vyacheslav and Vadim Aminov hold a 67.5 percent stake in the company and board member Alexei Lichtenfeld has a 22.5 percent stake. The company’s general director Alexander Tertychnyy holds a 10 percent stake.

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