Articles by Todd Prince

Renaissance Plans $1Bln Africa Fund

  • 31 May 07
  • Bloomberg
Stephen Jennings, the billionaire founder of Renaissance Capital, plans to double his investment in Africa to at least $1 billion this year as the country's record stock rally stalls.

Bankers' Pay Twice That in New York

  • 18 May 07
  • Bloomberg
Investment bankers in Moscow are now earning double the pay of their counterparts anywhere else.

Mortgage Agency to Sell Bonds

State-owned mortgage agency AIZhK plans to sell the nation's second ruble-denominated bonds backed by mortgages.

Mortgage Market Set to Almost Double in 2007

  • 20 March 07
  • Bloomberg
Russia's mortgage market is set to almost double this year as growing wealth among the nation's 141 million people drives demand for better housing and banks offer cheaper loans. The mortgage market will reach at least $17 billion by the end of this year, Ilya Zibaryev, head of Alfa Bank's mortgage business, said Thursday.

Uncertainty Driving IPOs, Citigroup Says

  • 14 November 06
  • Bloomberg
Russian firms are trying to insure themselves against political changes in 2008, the U.S. bank says.

Brezhnev, Gorbachev Cars Go on the Block

  • 14 April 06
  • Bloomberg
The dark-colored limousines that ferried Soviet leaders Leonid Brezhnev and Mikhail Gorbachev went on sale as part of an auction aimed at raising more than $13 million.

Putin Backs Irkut Chief to Head Aviation Giant

  • 07 March 06
  • Bloomberg
President Vladimir Putin is backing the nomination of Irkut chairman Alexei Fyodorov, who has attracted foreign investors to the once-closed aerospace sector, to head a state-controlled holding company aimed at reviving the nation's aviation industry.

Sistema Looks South for Telecoms Expansion

  • 14 February 06
  • Bloomberg
Sistema, one of the nation's largest industrial holding companies, agreed to buy a Greek telecom equipment maker and is in talks to buy an Italian one as it plans to sell shares in its technology unit as early as this year.

Banks Gear Up for Novolipetsk Sale

  • 15 November 05
  • Bloomberg
Novolipetsk, the country's fourth-largest steelmaker, may sell shares to the public at the start of next month in what could be London's biggest offering this year for a steel producer, said investors including John Coast Sullenger at Lombard Odier Darier Hentsch.

Lebedev Chancing Reality TV

  • 30 August 05
  • Bloomberg
Billionaire and State Duma Deputy Alexander Lebedev is producing a reality television program to help Russians make money from business, following the lead of Donald Trump.

Dairy Firm Sells Shares to Fund Growth

  • 01 August 05
  • Bloomberg
Nutrinvestholding, which controls Russia's third-largest dairy company, plans to raise as much as $63.8 million selling shares in a so-called private placement.

Novatek Raises $879M in London

  • 22 July 05
  • Bloomberg
Shares in Novatek, the country's second-biggest natural gas company, soared after a London stock sale as rising European gas demand drove up prices.

Rambler Raises $40M in IPO

  • 14 June 05
  • Bloomberg
Rambler Media, a television broadcaster that controls Russia's second-largest Internet search engine, and its owners raised $40 million in the country's first initial public offering of shares by a web service company.

Evraz Owners Expect $200M Dividend

  • 23 May 05
  • Bloomberg
Owners of Evraz Group, Russia's largest steelmaker, will pay themselves $200 million in dividends before an initial public offering, according to a copy of the prospectus obtained by Bloomberg.

Pyatyorochka Raises $600M in IPO

  • 11 May 05
  • Bloomberg
The owners of Pyatyorochka, Russia's largest supermarket chain, raised $598 million in an initial public offering after pricing the shares at the bottom of a range used to canvass investors.

Grocer Aims for 1,000-Store Chain

  • 28 April 05
  • Bloomberg
Pyatyorochka, Russia's largest supermarket chain, aims to quadruple the number of stores it operates in and around the nation's two largest cities within eight years.

Juice Maker Gears Up for $129M IPO

  • 01 March 05
  • Bloomberg
Lebedyansky, Russia's largest juice producer by market share, is seeking to raise almost $129 million by selling a minority stake in an initial public offering.

IPOs Luring Western Bankers

  • 22 February 05
  • Bloomberg
Morgan Stanley and Credit Suisse First Boston led banks that split almost $30 million of fees for managing Sistema's initial public offering, Russia's biggest ever.

Sistema Plans $1.2Bln Investment in Realty

  • 08 February 05
  • Bloomberg
Sistema, the holding company controlled by billionaire Vladimir Yevtushenkov, plans to invest $1.15 billion over the next two years in real estate projects, the company said last week in documents for a share sale.

Minority Shareholders Renew Surgut Assault

  • 17 January 05
  • Bloomberg
Surgutneftegaz's minority shareholders asked a Russian court to cancel shares held by Surgut subsidiaries, saying it will reduce management control over the oil company, the country's fourth-largest.

Country Risk Choked RTS Growth in 2004

  • 31 December 04
  • Bloomberg
The RTS index trailed an emerging markets stock benchmark for the first time in six years in 2004 as the government-led dismantling of Yukos sent the company's shares plunging and stoked concern others may follow.

Stock Market Hits a 3-Month Low

  • 06 December 04
  • Bloomberg
Russian stocks fell Friday, led by Unified Energy Systems, the nation's most-traded stock, as investment banks including Brunswick UBS lowered their forecast for the country's economic expansion.

Tycoons Raise $69M in Realty IPO

  • 17 November 04
  • Bloomberg
Open Investments, a Moscow real estate company owned by billionaires Vladimir Potanin and Mikhail Prokhorov, raised $69 million Tuesday by selling shares to finance the building of luxury homes and offices.

Sun Interbrew Boasts 46% Rise in 3rd Quarter Profits

  • 11 November 04
  • Bloomberg
Sun Interbrew, an InBev venture, said third-quarter profit rose 46 percent as sales grew, driven by new brands introduced amid rising consumer demand.

Reserves Hit Record $100.1Bln

  • 22 October 04
  • Bloomberg
Foreign currency and gold reserves rose to a record $100.1 billion, meeting the Central Bank's year-end target, as exporters' revenue rose with oil prices, the country's major export commodity.

Finance Ministry Planning to Pursue Minimization of Taxes

  • 21 October 04
  • Bloomberg
Russia plans to stop companies in industries such as oil and metals extraction from minimizing tax payments by selling goods to related parties at below-market prices, Deputy Finance Minister Sergei Shatalov said Wednesday.

EBRD and Boris Jordan Join Forces in Insurance

  • 12 October 04
  • Bloomberg
The Sputnik Group, an investment company run by U.S.-born banker Boris Jordan, and the European Bank for Reconstruction and Development will invest $36 million in a new life insurer that seeks to tap rising incomes.

Fradkov: State to Take Active Role in Industry

  • 28 September 04
  • Bloomberg
The government will take an active role in managing industry as it seeks to curb inflation and open markets to attract investment, Prime Minister Mikhail Fradkov said Monday.

Foreigners Rush to Bet on Future

  • 15 September 04
  • Bloomberg
Dresdner Kleinwort Wasserstein and UBS are among banks becoming members of Russia’s largest derivative exchange as trading on the market surges.

Swedes Up Stake in Yukos Unit

  • 31 August 04
  • Bloomberg
Vostok Nafta Investment, a Swedish company that holds about $660 million of assets in the energy industry of the former Soviet Union, boosted its stake in a Yukos subsidiary that last year had its largest oil field license taken away by the government.