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Russia's NCSP announces share listing

Russia's NCSP announces share listing

Moscow: Russian port operator Novorossiysk Commercial Sea Port (NCSP) has announced that it plans to list on the London Stock Exchange under the guidance of Morgan Stanley and Troika Dialog.

Although NSCP did not list any details about the number of shares that would be offered or the timing of the sale, its chairman Alexander Ponomarenko told, "After a period of consolidation and strong organic growth, we believe that the natural next step for NCSP is to list overseas and to raise the company's profile internationally."

"The major investment programme currently under way will increase capacity and consolidate NCSP's position as one of Europe's most economically and strategically important ports, and one which will play an important role as the gateway between international markets and the rapidly growing Russian market," he added.  [08/10/09]