Rustranscom in Proposed $300 Million IPO

May 9, 2019

Cleary Gottlieb advised Rustranscom plc (Rustranscom) on its proposed initial public offering.

It was proposed that Rustranscom seek admission to trading and a standard listing of up to $300 million worth of global depositary receipts representing its shares, with Rustranscom’s main shareholder, Molesto Investments Limited, also potentially selling a portion of its holding. A registration document was published on April 1, 2019, in preparation for the transaction.

Rustranscom is the market leader in rail transportation of grain in Russia and Kazakhstan and of timber and mineral fertilizers (among noncaptive operators) in Russia. In 2018, Rustranscom’s 67,952 railcars transported 60.7 million tonnes of freight, generating adjusted revenue of ₽51.534 million and adjusted EBITDA of ₽31.104 million.