Novaport’s IPO efforts target operations

Russia’s largest private airport holding, Novaport, is planning to hold an IPO in 2015-2016, the company’s general director, Mikhail Smirnov, briefed journalists on Thursday in Novosibirsk.

“The development of Novaport’s network includes the acquisition of two or three airports in the next five years. Our company is still consolidating purchases, unifying budget standards and carrying out strategic planning. We plan the IPO for around 2015-2016,” Smirnov said.

Novaport plans to take part in a tender for the state stake in Samara’s Kurumoch Airport with an official application to be submitted later this year.

“We are planning to submit our application in November. The application will include the company’s offer for the state stake, as well as its investment plans for the airport’s development.” Smirnov confirmed.   

With an aggressive strategy focused on the development of a passenger and cargo hub, the company expects to increase the volumes of cargo operations as well as passenger throughput and obtain operational efficiency in other locations, noted Smirnov.

“The company’s strategy for Novosibirsk includes the development of stop-off points on routes between Southeast Asia and Europe. Novaport’s strategy for other airports foresees boosting operational efficiency, raising the share of navigation services and creating flexible conditions for airlines. It is our main target to reach a throughput of 5.122 million passengers at airports under Novaport’s control this year while total cargo throughput could reach 39.4 million tons. The company’s sales revenue is expected to top 8 billion roubles.” Smirnov explained.

Novaport manages 38% of the shares in Tolmachevo Airport, 48% of the shares in Altai (Barnaul) Air Company, 74.9% in the managing company of Tomsk Airport and 100% in the Kadala Airport in Chita. Novaport also manages airports in Chelyabinsk and Astrakhan.

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