Sukhoi Civil Aircraft is planning an IPO by 2010, the company’s vice president for economics and finances Maxim Grishanin told journalists Tuesday.
According to him, the company’s strategy envisages an IPO by 2010.
“To enter the open market, business has to be established first,” explained Grishanin. In his words the company has yet to obtain certificates for its products in Russia and the CIS and make first certified deliveries of the airliners to Aeroflot in November-December 2008`. Accordingly, an IPO may be scheduled for 2010.
Grishanin stressed that for the moment current shareholders of Sukhoi Civil Aircraft would like to retain minimum control of the company. In his words an agreement has been reached with Alenia Aeronautica to sell 25% of shares plus 1 share of the company to it. “The deal is under way and will be over this year,” he noted.
Commenting on the possible participation of Vneshekonombank (VEB) in the company, Grishanin said that VEB hopes initially to get around 10% of the shares. According to him, the deal may cost tens of millions of dollars.
“We’re ready to offer the rest to investors,” he said.
Grishanin pointed out that it was planned to increase the registered capital of the Sukhoi Civil Aircraft Company. “The current shareholders will have to decide whether they will second such an increase,” he added.
The vice president also informed that Sukhoi Civil Aircraft was negotiating with a number of Russian and foreign companies. He said that the first contract would likely be signed with a carrier from a far abroad country. “We’re holding talks on aircraft deliveries,” he explained, noting that the question is several tens of aircraft.
Sukhoi Civil Aircraft, a subsidiary of the Sukhoi Aircraft Holding Company, is developing the Superjet 100 project. According to experts, US$ 920 million will need to be invested into the project. A price tag for one aircraft will be approximately US$ 25 million, depending on version and configuration.
The Sukhoi Superjet 100 family will supposedly comprise three basic models intended to carry 75 to 95 passengers. The planes will be powered by the SaM146 engines being jointly developed by ’s NPO Saturn and ’s Snecma.
Demand for Sukhoi Superjet 100 on domestic and international routes through 2010 is predicted at around 800 aircraft, with Russian carriers may expectedly purchase more than 150 planes. By 2010, Sukhoi intends to manufacture 50 to 60 airliners a year.
