We have recently discussed a lot the possibility of an initial public offering for Yandex , the major Russian search engine and provider of various internet services.More >>
German state-owned railway Deutsche Bahn AG looks set to postpone the planned IPO for a 24.9% stake in its DB Mobility Logistics AG division, which at an estimated $6 billion, would have been the country's biggest IPO since Deutsche Post AG in 2000.More >>
CapitalSource will continue to own and operate 100% of its healthcare net lease business pending completion of an offering of CapitalSource Healthcare REIT common shares.More >>
Michaniki, Greece's fifth-biggest builder, has postponed plans for an initial public offering in London as the global credit crisis hurts real estate prices, Chief Financial Officer Apostolos Athanasopoulos said.More >>
Italian luxury goods maker Salvatore Ferragamo sees a "strong positive trend" for sales in Russia, despite the country suffering its worst financial crisis since 1998, Chief Executive Michele Norsa said on Tuesday.
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British bank Barclays Plc's purchase of bankrupt Lehman Brothers Holdings Inc's main U.S. assets this week will propel it into the top ranks of underwriters of global debt and securities and advisors of mergers and acquisitions so far this year.More >>
The unlisted bank, a unit of Dubai Banking Group (DBG), could sell its first tranche in the next "couple of months", depending on market conditions, Chief Executive Officer Salaam Al-Shaksy told newswire Reuters on Wednesday.More >>
NEW YORK, Sept 26 (Reuters) - Freddie Mac on Friday said it plans to sell $2 billion of reference bills on Monday, Sept. 29, in two issues.
The schedu…More >>
Years 2005-2007 are likely to go down in market history as the years of Russian IPO boom. Over the last few years initial placement offers were held by such giants as state-controlled Rosneft Oil Company, state-owned VTB, the top savings bank Sberbank and a slew of other smaller firms. But it looks like the time of easy money for state-controlled companies is over.More >>
The last assets of YUKOS were sold last week to finish several months of sales of what was once Russia's largest oil producer. Bankruptcy procedures for the company are to be over by November when it will be liquidated. It took roughly four years to wind up one of Russia's biggest oil holdings. Mikhail Khodorkovsky's empire was virtually handed over to state-run Rosneft. The state-controlled oil firm, which used to be a mediocre player in the YUKOS golden age, has snapped up most of its production units and refineries at knockdown prices to become the leader of the Russian market, in terms of capitalization, production, refining, the size of oil reserves and even the number of gas stations in the country. Rosneft now aspires to become a world leader, something that YUKOS was also aiming at.
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Rosneft may fall after oil prices declined. Polyus Gold may rise after gold prices rose in New York on speculation that rebounding equities will boost investment demand in precious metals. VTB bank said it had no exposure to U.S. subprime ABS or any CDO exposure.More >>
On July 30, the Bank of Russia published a review on advanced redemption of mortgage housing credits. The primary market of mortgage credits was increasing at the same pace: the number of mortgage credits granted by banks increased 4.4 times and reached 234 billion rubles. A rapid rise of mortgage lending in 2006 was supported by profit institutions refinancing mortgage credits which asserted themselves as the largest operators on the secondary market.More >>
The increase of inflation not only reduces consuming ability, but also increases the necessary rate of return for the enterprises. Recently, profitability of the capital in 10 % was considered sufficient for the beginning of a business and the reference point was the bank rate.More >>
The upgraded IDR reflects Rosneft's strengthened competitive position following a series of acquisitions, predominantly in the refining and distribution segments, making it one of Russia's leading integrated oil and gas companies.
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The Positive Outlook reflects Severstal's corporate governance improvements that were undertaken in view of its IPO in November 2006 and Fitch's expectations that the company will continue to adhere to best international practice.More >>
Analysts explain the revision of Sberbank's share in the index first of all by a coming SPO of Sberbank. "The bank's capitalization will increase after the SPO and it must be taken into consideration,"More >>
The rating agency Standard and Poor's has upgraded Rosneft's rating from "BB" to "BB+" and removed the rating from the CreditWatch list with a positive outlook, which it received on November 15, 2006. The rating has a "developing" outlook.More >>
