Russian Helicopters may try again for IPO next year

Russian Technologies state corporation hopes to hold an initial public offering next year for Russian Helicopters, its subsidiary holding which designs and manufactures civil and military rotorcraft, Russian Technologies head Sergei Chemezov said on Thursday. "We have a helicopter holding ready. If the market is more or less stable or starts growing next year, we will of course hold (an IPO)," Chemezov said without ruling out the possibility of postponing it. Chemezov did not specify the size of the IPO, saying that it would depend on market conditions. Russian Helicopters intended to hold an IPO in May by placing ordinary shares held by its core shareholder, Oboronprom state defense industry company, and new shares represented by GDRs, in London and Moscow to raise $500 million. However, the company postponed the placement due to unfavorable market conditions.