Svyazinvest aims for April 2011 IPO

5 Feb 2010

According to a report by the Moscow Times, state-run telecoms conglomerate Svyazinvest plans to complete its structural reorganisation by April 2011, hoping to subsequently hold an initial public offering (IPO) to offload around 25% of the company. Alexander Kiselev, CEO of Svyazinvest said, ‘We are planning to do it at the same time as the shares in the regional units become convertible.’ Svyazinvest is currently in the process of combining long-distance operator Rostelecom with its seven ‘mega-regional’ operators: Center Telecom, North-West Telecom, Volga Telecom, South Telecom, Uralsvyazinform, Siberia Telecom (Sibirtelecom) and Far East Telecom (Dalnevostochnaya), creating a single, national network. The company is likely to list on the New York or London stock exchange.