Articles by Elif Kaban

Novikov Denies Planning London IPO

  • 19 February 07
  • Reuters
Banking sources say leading restaurateur Arkady Novikov is considering an IPO to cash in on demand from the hungry elite of Moscow.

Investors Concerned Over Power Reforms

  • 23 January 07
  • Reuters
Investors expressed concern Monday after the country's electricity monopoly proposed changes that would put an unlisted, little-known and state-regulated federal grid network in the driving seat of a complex industry restructuring.

Comstar Gains 25% Stake in Svyazinvest

  • 13 December 06
  • Reuters
Telecoms firm Comstar said Tuesday that it had bought a blocking stake of 25 percent plus one share in Svyazinvest, the main player in fixed-line telephony in the country, for $1.3 billion, confirming what some banking sources said Monday.

Hydro OGK Power Tenders Announced

  • 23 November 06
  • Reuters
As the country braces for winter power shortages, electricity reforms moved up a gear Wednesday with word of a first of a series of multibillion-dollar tenders to build new hydroelectric power stations.

A Revamped Intourist Goes for London IPO

  • 06 October 06
  • Reuters
Intourist, the travel agency that policed foreign tourists around dreary Soviet monuments dishing out communist propaganda, is set to take a trip to London for a listing of its shares next year, a top official said Thursday.

Severstal Planning London IPO in Fall

  • 02 August 06
  • Reuters
Steel group Severstal, in the limelight after its attempted merger with Arcelor, is now seeking to raise up to $1.5 billion in a London share offering in October or November, banking sources said Tuesday.

Gambler Ritzio Shelves Plans for IPO

  • 18 May 06
  • Reuters
Ritzio Entertainment Group, which runs the Vulkan chain of gaming clubs, has shelved plans for what would have been Russia's first listing of a gambling firm in London due to expected legislative changes to curb the booming business, banking sources said Wednesday.

Ingosstrakh Readies First Insurance IPO

  • 03 April 06
  • Reuters
Ingosstrakh has hired three Western banking giants for an initial public offering in London later this year when it makes history by becoming the first publicly traded Russian insurance company, banking sources said Friday.

Russian High-Tech Firms Look to London for IPOs

  • 23 March 06
  • Reuters
Leading information technology firm Compulink has mandated Renaissance Capital for an IPO in the coming months in the first of this year's rash of high-tech listings from Russia, banking sources said Wednesday.

Sources: Magnit and Diksi to Kick Off Spate of Retail IPOs

  • 16 March 06
  • Reuters
The country's largest retailer, Magnit, and fourth-largest supermarket chain, Diksi, plan initial public offerings abroad this year to kick off an expected rush of retail listings, banking sources said on Wednesday.

Comstar Rakes In $1Bln in IPO

  • 08 February 06
  • Reuters
Telecoms firm Comstar UTS, a fixed-line unit of service group Sistema, raised $1.06 billion in a London initial public offering on Tuesday, less than two years after it was founded.

Russia Caps Gazprom ADR Quota

  • 27 January 06
  • Reuters
The country's market regulator said on Thursday that it would allow only 35 percent of gas monopoly Gazprom's shares to be traded as American Depositary Receipts, below a 40 percent quota request from the company.

'Ring Fence' to Be Lifted Next Week

  • 22 December 05
  • Reuters
The long-awaited removal of curbs on foreign investment in gas monopoly Gazprom is expected on Dec. 28, Vedomosti said Wednesday, quoting company officials.

Investors Press for Clarification on Plans for Gazprom Shares

  • 14 December 05
  • Reuters
Investors are pressing Russia for more details on plans to scrap a bar on foreigners owning shares in Gazprom, which it has promised before the end of the year.

Deutsche Bank Bets on Russia's Markets

  • 07 December 05
  • Reuters
Deutsche Bank said on Tuesday it was making a long-term investment in Russia's huge growth potential and booming markets by taking over investment bank United Financial Group.

Russia Sets Date for Gazprom Share Deal

  • 17 November 05
  • Reuters
Russia has for the first time given a clear time frame for removing curbs on foreign ownership of shares in gas giant Gazprom, a move that will make it the world's biggest emerging markets stock.

Political Uncertainty Drives Firms to List

  • 06 October 05
  • Reuters
A flood of Russian initial public offerings is about to hit the market as entrepreneurs seek to cash in before the 2008 presidential election clouds the investment outlook, market watchers said on Tuesday.

Banks Agree to Lend $12Bln to Gazprom

  • 20 September 05
  • Reuters
Western banks agreed to a record $12 billion loan to gas giant Gazprom to acquire Roman Abramovich’s Sibneft oil firm in a deal that would give the Kremlin control over one-third of Russia’s oil, senior bankers said on Monday.

Generation Firm Goes on Market

  • 15 September 05
  • Reuters
A generating firm valued at $1 billion began trading on the MICEX on Wednesday in a step forward for the politically fraught power sector reforms aimed at breaking up monopoly Unified Energy Systems.

Western Banks Sign Off on Record Rosneft Loan

  • 09 September 05
  • Reuters
Russian plans to liberalize share trading in the world's largest gas company moved close to completion on Thursday with a long-awaited deal on a record $7.5 billion loan, Russia's biggest ever, to finance the transaction.

Foreigners Flocking to Gazprom Stock

  • 23 August 05
  • Reuters
From risk-averse pension funds to freewheeling hedge funds, investors are flocking to gas giant Gazprom in the hope of profits once its free float opens, even as the Kremlin tests the patience of minority shareholders.

Banks Extend Mammoth Loans

  • 22 August 05
  • Reuters
Lured by booming oil prices and friendly Kremlin ties, Western banks want to extend Russia the largest loans in its history, brushing aside fears of bad debts, the ghosts of fallen Yukos and high levels of borrowing.

Paper: Heineken Closes In on Next Russian Brewery

  • 17 August 05
  • Reuters
Heineken will buy brewer Ivan Taranov in a deal valued at $560 million, Kommersant said on Tuesday, marking a further expansion into one of the world's fastest-growing beer markets.

Telenor Raises Stakes in Battle Over VimpelCom

  • 08 June 05
  • Reuters
Norwegian telecoms group Telenor has threatened to exit Russia's VimpelCom over an ownership battle with Alfa Group, but analysts were hopeful of a solution that would benefit investors in Russia's No.2 mobile phone firm.

State Seeks Bargain for Gazprom Stake

  • 23 May 05
  • Reuters
The government has indicated it will not pay a premium for the 10.7 percent stake in Gazprom it wants to open up the gas giant's free float to foreigners, sources close to the deal said Friday.

UES Hit With $131M Tax Bill

  • 18 May 05
  • Reuters
Electricity monopoly Unified Energy Systems said on Tuesday that it had been slapped with a 3.68 billion ruble ($131.3 million) 2001 back tax claim, the latest in a rash of such demands that has shaken market confidence.

Attack on Chubais Clouds UES Plans

  • 21 March 05
  • Reuters
The gangland-style attempt to kill electricity leader Anatoly Chubais adds to the uncertainty over power sector reforms, the most complicated corporate restructuring ever undertaken here, fund managers say.

UES Shares Drop as Power Reform Stalls

  • 24 November 04
  • Reuters
Shares of electricity monopoly Unified Energy Systems, or UES, shed as much as 5 percent Tuesday on reports of a delay in power-sector privatization, a key battlefield in Russia's stalling reform plans.

Predators Circle as Yukos Tanks

  • 24 November 04
  • Reuters
Russia's most valuable company before it was decimated by a legal onslaught, lost over a fifth of its value Tuesday ahead of a state sale of its main oil-producing unit on Dec. 19 to settle mounting tax debts.

Private Equity Fever Grips Investors

  • 03 November 04
  • Reuters
Supermarkets in Moscow, dairy farms in Siberia and pay-TV channels in St. Petersburg are now on the books of funds sniffing out unlisted Russian assets with high yields as private equity fever grips Russia.