Russian auto dealer Genser set for London IPO in fall 2011

Genser, one of Russia’s top five car dealers, will hold an initial public offering(IPO) on the London Stock Exchange in fall this year, Kommersant business daily reported on Thursday.

The company may sell a minority stake during the IPO comprising stock from a new share issue and shares held by the Volga River One Capital Partners and Solway Investment funds, the paper said.

Two investment bankers and a source in Genser confirmed the company’s plans to hold an IPO in the fall.

“This is not a tight schedule approved by the company. However, there is an understanding that by fall we may be prepared for listing on the exchange,” one of the sources said.

VTB Capital, UBS and Goldman Sachs have been chosen as the IPO lead managers.

Genser is the official dealer of Nissan, Chervolet, Opel, Hyundai, Volkswagen, Cadillac, Ford, Mazda, Toyota and Land Rover brands. The company has nine car centers in Moscow and 14 in Russia’s regions.

MOSCOW, April 21 (RIA Novosti)

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