Skip to content
Subscriber Only

Russian Rail May Return to IPO Plans in 2 Years, Yakunin Says

OAO Russian Railways, the state monopoly that sold $1.5 billion of Eurobonds in March, may consider selling shares in two years to raise non-government funds to expand its transportation network.

Russian Railways is worth “several times” its authorized capital of 1.5 trillion rubles ($48.4 billion), company President Vladimir Yakunin said in an May 28 interview in Sochi, the Black Sea resort that will host the 2014 Winter Olympics. The company may return to plans for an initial public offering no earlier than 2012, after selling stakes in units, he said.