fbpx

Today in Russian Business – April 28, 2010

Uralchem’s plans for an IPO this year, which would be one of London’s largest if it goes ahead, are being challenged by a former shareholder who is urging the Financial Services Authority to block the offering, apparently over issues of solvency.  First Deputy Prime Minister Igor Shuvalov says Russia has shown the U.S. all of the documents pertaining to its Customs Union with Belarus and Kazakhstan to ‘defend the position that the Customs Union is based on the norms and principles of the WTO‘.  U.S.-based tractor maker John Deere has begun its $500 million Russia investment plan with a new factory in Domodedovo.  Russia is to begin importing its annual 260,000 metric tons of steel pipes from Ukraine duty free, an early confirmation of speculation that the deal on Ukraine’s Sevastopol naval base will lead to further economic cooperation in the energy, air and shipbuilding industries.  Rusagro will attempt to value itself at $1.23-1.55 billion at an IPO next month, hoping to raise $309 million. Pharmaceutical distributor Protek’s IPO has raised $400 million, the largest Russian offering since 2007, says the Moscow Times.