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Company News

Two of Russia's Sovcomflot IPO organisers estimate its EV at $2.7-$5 bln - sources

MOSCOW, Sept 15 (Reuters) - VTB Capital and BofA Securities, organisers of an initial public offering (IPO) of Russia’s Sovcomflot, estimate its pre-IPO enterprise value at $4-$5 billion and $2.7-$4.8 billion, respectively, two financial market sources told Reuters on Tuesday.

Sovcomflot, Russia’s top shipping company, plans to raise at least $500 million in the IPO on the Moscow Exchange, it said earlier on Tuesday.

Citigroup Global Markets Limited, Sberbank CIB and JPMorgan are arranging the offering along with VTB Capital and BofA Securities. (Reporting by Olga Popova; writing by Polina Devitt; editing by David Evans)

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