LONDON: Rustranscom plc (RTC), a leader in specialised rail freight transportation in Russia and Kazakhstan, has announced the postponement of the Initial Public Offering (IPO) of Global Depository Receipts in favor of a private equity transaction.[the_ad id=”31605″]Earlier this month RTC published the Intention to Float as part of the preparation to the initial public offering of global depository receipts representing the Company’s ordinary shares. The access to public capital markets was viewed by RTC principal shareholders as one of the possible tools to finance the Group’s growth-oriented strategy.

However, during the period after the ITF publication, RTC principal shareholders received several proposals regarding private equity transactions, which are better aligned with the Group’s development strategy.

Founded in 2008, RTC is the market leader (by 2018 volumes) in rail transportation of grain in Russia and Kazakhstan and of timber and mineral fertilisers (among non-captive operators) in Russia (with market shares of 44%, 22% and 18%, respectively), according to Company data and publicly available information. The Company’s primary business is the provision of rail freight services and the leasing of rolling stock.