Reports: Russia port group plans U.K. IPO
Russia’s Global Ports Investments (GPI) said it plans to raise $100 million in a initial public stock offering in London.
Reuters reported the company is “seeking more than $100 million from a London initial public offering,” while the Financial Times said the company is looking to raise up to $750 million by seeking a valuation of $3 billion and selling a 25 percent stake.
GPI said it is the leading container terminal operator in Russia with a 30 percent market share of container throughput and the largest oil products terminal operator in the Baltic Sea basin with a 28 percent market share of the former Soviet Union states' fuel oil exports.
GPI said it operates three container port facilities in Russia, including two in St. Petersburg and one in Nakhodka on the Sea of Japan. It also operates two container terminals in Finland,, the three largest independent oil products terminal in the Baltic Sea Basin, and one inland terminal in the St. Petersburg region.
Reports: Russia port group plans U.K. IPO
