RPC UWC announces its intention to go for secondary public offering
PJSC «Research and production corporation «United Wagon Company» («RPC UWC» or the Holding) (MOEX: UWGN), the market leader in innovative railcar building in the 1520 mm gauge area, intends to go for a secondary public offering (the “Offering” or the “SPO”) of its ordinary shares (the “Shares”) on the Moscow Exchange.
- Under the SPO, 8.5 million shares will be placed for the purposes of increasing the RPC UWC’s charter capital
- The capital raised through the Offering will be invested in the development of the Holding’s business
- The Offering is scheduled for the second half of May 2016. The final dates will be determined by the CEO of RPC UWC
- The price of the Shares will be set forth by the Board of Directors based on their market value and published before the Offering
- The Offering implies sale of the Shares on the Moscow Exchange pursuant to its applicable settlement procedures
- Otkritie Financial Group is the lead manager and bookrunner of the offering
According to Roman Savushkin, RPC UWC’s CEO, “Last April UWC successfully went through its IPO to become Russia’s first public railcar builder. The capital raised through the IPO was invested in our business, which allowed us to make a vast leap toward our long-term goals under the transaction. We are working on further development of the production, continuously expanding the fleet and diversifying our products that are becoming more and more popular as the market recovers.
As the company's steady growth and successful business implementation boosted the investor demand for UWC’s securities, we decided to go for another public offering. The SPO will raise extra capital which we need to implement our strategies aimed to increase the company’s value.”