January 15, 2013 / 7:41 AM / 5 years ago

Russia's NefteTransService plans London IPO

MOSCOW (Reuters) - NefteTransService, one of Russia's largest private freight rail operators, is to float shares on the London Stock Exchange, the company said on Tuesday.

NefteTransService is expected to raise around $500 million (311 million pounds), two sources familiar with the placement said, and float around 25 percent of its shares. The company did not disclose the amount it aims to raise.

The offer is expected to be completed in the first half of 2013, the company said in a press release. A road show for investors is to start on January 28, one source said.

NefteTransService was founded in 2006 by Vadim and Vyacheslav Aminov. Last year, the company was the country's largest private railway operator, measured by the amount of cargo transported in Russia.

It handled 71.1 million tonnes of cargoes - more than the 9.6 million tonnes transported by Russian freight operator Globaltrans Investment (GLTRq.L), which raised over $500 million in a share sale in July.

NefteTransService cites Anglo-Russian crude producer TNK-BP TNBP.MM, coal miner SUEK SUEKM.UL and steel producer Mechel (MTL.N) among its key customers.

JP Morgan (JPM.N), Morgan Stanley (MS.N) and Renaissance Capital are acting as joint global coordinators and joint book runners for the offering.

Reporting by Megan Davies and Olga Popova; Writing by Lidia Kelly; Editing by Douglas Busvine and Mark Potter

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