12/11/2010 The London Stock Exchange welcomes TransContainer to the Main Market
The London Stock Exchange today welcomed TransContainer (TRCN), the leading intermodal container transportation and integrated logistics solutions company in Russia, to mark the first day of unconditional trading in its ordinary shares on the main market of the London Stock Exchange. This followed TransContainer’s IPO which raised US$400 million. The IPO has become the first public offering of shares in a subsidiary of Russian Railways and is a key part of the ongoing Russian rail industry reform. Russian Railways has successfully placed a c.35% stake in TransContainer, raising funds for financing modernisation of the Russian railway system.
Dmitry Novikov, Chairman of the Board of TransContainer, said: “We are delighted to have joined the London Stock Exchange, and we are proud that TransContainer is now a publicly traded company with its depository receipts quoted on the LSE Main Market. This London listing is an important strategic step for TransContainer and the transaction is a landmark event in the course of the reform of the railway transportation sector in Russia. We will endeavour to further develop TransContainer as a public company and to increase value for its shareholders.”
TransContainer provides comprehensive container transportation and freight management services and is the market leader in Russia by flatcar fleet size, twenty-foot equivalent units (“TEUs”) transported by rail and rail-side container terminal throughput, and its market share as of 30 June 2010 in these categories was approximately 60%, 53% and 34%, respectively (according to A.T. Kearney).