RBC, Russia's largest IT and media company, prepares to expand its business. The head company of OAO RBC Information Systems is selling additional shares. The raised funds will be used to buy high tech equipment, in the first place.

"This development strategy implies intensive growth as a result of takeovers," said German Kaplun, Chairman of the Board of Directors of OAO RBC Information Systems. According to him, the company is going to make purchases in the IT sector, and its managers are already in talks with some IT firms. .

This aggressive policy will be funded through an additional share issue, which will continue until June 16, 2004. 15m ordinary shares will be issued, which is 15 percent of the authorized capital. 36.1 percent of shares will be traded on the market after the additional share issue. .

According to analysts, RBC has very good business prospects. The media market will be growing (it is expected to grow 30 percent to $3.4bn in 2004), and the demand for business information will also rise over the next few years, due to overall economic growth. As for political risks, RBC also has its know-how in this sphere. "We always report political events, but our principle is to refrain from making assessments," Mr. Kaplun said. .