Telegram included in register of Internet information distributorsBusiness & Economy June 28, 20:56
Putin points to growing activities of foreign secret services against RussiaRussian Politics & Diplomacy June 28, 20:36
FIFA chief Infantino to attend Chile-Portugal 2017 Confederations Cup semis match in KazanSport June 28, 20:27
Lavrov expects US to refrain from creating pretexts for new attacks on SyriaRussian Politics & Diplomacy June 28, 20:09
Top diplomat says Germany willing to open new chapter in relations with RussiaWorld June 28, 19:28
Russia open for cooperation with Germany in war on terror, Lavrov saysRussian Politics & Diplomacy June 28, 19:22
Baltic Fleet’s fighter jets hold air combat drills in Russia’s westernmost regionMilitary & Defense June 28, 18:57
Russian telecom watchdog to include Telegram in registerBusiness & Economy June 28, 18:51
Skolkovo Foundation proactively cooperating with China — IT projects directorBusiness & Economy June 28, 18:41
MOSCOW, January 27. /TASS/. Neither Russian Economic Development Ministry, nor the Federal agency for state property management (Rosimushchestvo) suggested any other scenarios of Sovcomflot privatization except public offering of common shares, head of the agency Olga Dergunova said on Tuesday.
"When we talked with the company we did not discuss and consider any other scenarios except public offering," Dergunova said, adding that the scenario of attracting a strategic investor is not considered either.
Russia’s Sovcomflot (SCF) is one of the country’s biggest maritime shipping companies. It focuses on transportation of oil, oil products and liquefied national gas. In December 2014, its board of directors approved the decision on additional share issue of 14.29% of the company’s equity capital.
Rosimushchestvo, which owns 100% of the stock, plans to privatize the firm. Earlier head of property watchdog Olga Dergunova said that Sovcomflot shares could be placed on any bourse, including the New York Stock Exchange (NYSE), though the Moscow exchange tops priority list.
Meanwhile, Fitch rating agency affirmed Sovcomflot ratings at "BB-" and revised its outlook to stable from negative two months ago.
On November 21, 2014 the rater reported that "the outlook revision reflects the improvement of Sovcomflot’s financial profile in 9M14 and our expectations for a stronger than previously forecast performance in 2014 and over 2015-2017, mainly driven by a tanker shipping sector recovery."
The agency also said that while IPO timing remains uncertain, it is likely to materially improve the company’s credit metrics and may lead to a positive rating action should the offering take place. "Our current financial forecast does not take into account proceeds from the potential IPO as its timing remains uncertain," Fitch reported.