Private Equity Russia

RusAgro, one of the largest Russian agricultural holding companies, is preparing for IPO in May, 2010.  Reuters originally reported that the IPO would be held in London, but Forbes is now reporting that the IPO will be in Russia.

The company will seek to raise from $250-$300 million.

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The supposed pipeline of Russian IPO’s this year may reach $20 billion.  Following Oleg Deripaska’s IPO of RUSAL in Hong Kong, the big question is, what will be the IPO destination of choice – London or HK?  (New York, it seems, is not even in the running).  Foreign traded shares still sell at a significant premium to domestic shares, based on convenience and worries about transparency, regulations and liquidity on the domestic market.

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Novatek, Russia’s largest independent gas producer and the second-largest natural gas producer in Russia, has acquired an additional 26% equity stake in OOO Oiltechprodukt-Invest, OOO Petra Invest-M and OOO Tailiksneftegas from United Capital Partners Oil and Gas Private Equity Fund, L.P.

The acquisition increases Novatek’s participation interest in these companies to 51%.

The acquired entities hold exploration licenses in five license areas in the rich Yamal Nenets Autonomous Region (Sredniy Chaselskiy, Severo Russkiy, Zapadno-Tazovskiy, Anomalniy and Severo-Yamsoveyskiy).

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The London Stock Exchange and MICEX (the Moscow Interbank Currency Exchange) have  jointly launched a new website (RussianIPO.com), which will provide in-depth information on the Russian and CIS capital markets as well as a means for private equity investors seeking to exit via IPO to connect with the larger investment community.

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