Kommersant-Dengi
April 3, 2002

Last week RBC Information Systems made an announcement about the first initial public offering (IPO) on domestic exchanges in the history of the Russian market. The company aims to attracting $10-12m. RBC Information Systems comprises several rather small companies (a web design studio, a system integrator, etc.) and the well-known RosBusinessConsulting information agency. RBC stock will simultaneously emerge on two trading marketplaces, MICEX and the RTS, in April. According to RBC president Yury Rovensky , the IPO proceeds "will be invested in the expansion of the company's network of regional and international representatives, the acquisition of a number of IT companies and the launching of a business TV." The bookbuilding process will commence on April 8, and the shares will be listed with MICEX and the RTS around April 22. The company is planning to raise about $16-19m by placing 16 percent of its stock. This amount was voiced by representatives of Aton, which acts as an underwriter for RBC , based on the company's valuation of $100-120m. However, some analysts think that this figure is two or three times higher than the actual value.

Sevastian Kozitsyn