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RBC PLACES CONVERTIBLE BONDS WORTH $5M
As a result of this event, which had been organized by ABD Consulting (Switzerland), RBC placed pre-IPO convertible bonds for a total amount of $5m and was heavily oversubscribed. At presentations RBC announced its firm intention to float about 17% of its shares by the end of the 1st quarter of 2002. The RBC Board of Directors reserved 10% of shares for future acquisitions and corporate purposes. The current management of the company also reserved the right to sell an additional 8% of its shares not earlier than in 6 month after the IPO in order to increase the liquidity of the stock. In order to become a benchmark of transparency and corporate governance, RBC invited leading Western IT and media managers to the Board of Directors. In the nearest future, RBC will set up a special web site for online communications with potential Russian and foreign investors. In view of the upcoming IPO, RosBusinessConsulting invites Russian and foreign investment banks to take part in a contest for the IPO lead manager.
Should you require additional information or comments, do not hesitate to contact press secretary of RBC Holding Maria Radina.
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Under the framework of the initial flotation of its shares, which had been announced earlier, RBC gave a road show for potential investors in Geneva, Lugano and Zurich (Switzerland).