January 30, 2013 / 3:30 PM / in 5 years

Rusnano sees 10% stake sale before July-CEO tells Interfax

MOSCOW, Jan 30 (Reuters) - Russian state technology firm Rusnano is planning to sell through a private placing of 10 percent of its shares between March and June, its chief executive Anatoly Chubais said in an interview with the Interfax news agency published on Wednesday.

“We still have the task of selling 10 percent,” Chubais said. “I hope that somewhere between March and June we will put an end to that.”

He also said that Rusnano already had a pool of investors, including an anchor investor “with a prestigious name”.

A $10 billion technology fund, Rusnano aims to invest in promising high-tech companies and help the Russian economy diversify from its hydrocarbon-heavy base. The state owns 100 percent, but wants to sell 10 percent as part of the government’s privatisation programme.

Chubais said that a share sale had been delayed from December because of a possible reorganisation of Rusnano’s legal form, which may result in Rusnano being converted into a structure similar to a general or limited partnership.

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