As Interfax news agency reported, Rambler media group will most likely float its shares on the London Stock Exchange in the alternative investments section within a week. All information about the company itself, its financial performance and the upcoming IPO have been thoroughly concealed from the Russian investment community.

Rambler Media holding includes web portal Rambler.ru, ISP Rambler Telecom, online advertising agency Index20, mobile services firm SMXCOM, broadcasting corporation Rambler TeleSet and news portal Lenta.ru.

United Financial Group and Aton are the IPO arrangers. According to preliminary data, the company is to offer 30% of its shares for $50 mln. This means that the company values itself at $167 mln.

According to our interim data, the fair price of Rambler’s 100% block of shares stands at about $62.5-$75 mln. Thus, we maintain that the 30% equity stake to be offered to investors looks overpriced. On top of this, we do not rule out that investors will be presented with information that guarantees 100% subscription of this stake.

Finam
Russian Brokerage Company
http://www.fin-rus.com