Subscribe to our free daily newsletters
. Military Space News .

Subscribe to our free daily newsletters

Russian Helicopters shelves IPO

disclaimer: image is for illustration purposes only
by Staff Writers
Moscow (UPI) May 12, 2011
Russian Helicopters, a company that makes civil as well as military choppers, shelved its initial public offering at the London stock index this week because of a lack of demand for shares, adding to the list of Russian companies that have failed to make it in Europe.

"While the IPO would serve the Russian government's strategic vision for the industry, we are also very conscious of the value of our asset," Andrei Reus, head of the helicopter maker's main shareholder Oboronprom, was quoted as saying Wednesday by Russian news agency RIA Novosti. "Based upon constructive conversations we have held with potential investors over the past few weeks, we believe market participants will benefit from more time to reflect upon the true value and growth potential of our business."

Famous for its Kamov and Mil Mi helicopter lines, the company wanted to raise as much as $500 million by dishing out $250 million in new shares and selling $250 million worth of stock held by Oboronprom to finance its debt, buy back shares and expand in emerging markets.

Potential investors may have been put off by the relatively high share price that valued the company at nearly $2.4 billion. Several other Russian companies have had to suspend their IPOs this year because of a lack of interest.

Russian Helicopters says on its Web site it is "a leading player in the global helicopter industry, the sole Russian designer and manufacturer of helicopters and one of the few companies worldwide with the capability to design, manufacture, service and test modern civilian and military helicopters."

The company operates five helicopter assembly plants, two design bureaus, two components production plants, one overhaul plant and one helicopter service company providing aftermarket services in Russia and abroad.

Russia is the world's second-largest exporter of arms behind the United States. Next to tanks and fighter jets, Russian-made helicopters are among the best-sold products -- albeit mainly to developing and emerging countries, which value the Russian price-performance ratio.

The company should get significant business at home as well. The Kremlin recently detailed plans for a $650 billion arms procurement program aimed at modernizing Russia's armed forces until 2020. It includes plans to purchase as many as 1,000 helicopters.

Share This Article With Planet Earth DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook

Related Links
The Military Industrial Complex at
Learn about the Superpowers of the 21st Century at

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

US missile test deal offers hope to Marshalls slum
Majuro (AFP) May 11, 2011
The United States has struck a deal with the Marshall Islands to continue using the key missile testing range at Kwajalein Atoll through to 2066, officials said on Wednesday. The deal, which ends an eight-year impasse, offers new hope to the nearby overcrowded Marshalls island of Ebeye, referred to locally as the "slum of the Pacific". It will extend the United States' use of the Reagan ... read more

Boeing to Begin Maintenance Work on SBX Missile Defense Radar

Israel to invest $1 billion in Iron Dome: report

Next Generation Missile Warning Satellite Launched Successfully

Romania, US conclude talks on missile shield

Taiwan deploys supersonic anti-ship missiles

US man jailed for smuggling anti-aircraft missiles

Patriot Test Fires PAC-3 MSE Missile

Milestone Achieved with Test of JAGM's Single Rocket Motor Solution

First test flight for biggest China drone

US drone attack kills five in Pakistan: officials

US drone attack kills three in Pakistan: officials

US drone attack kills four militants in Pakistan: officials

Lockheed Martin To Produce Equipment For US Army Tactical On-The-Move Network

Emirates lofts satellite to boost military

LockMart Battle Command System Replaces US Army Legacy System

Lockheed Martin Demonstrates Integration of MONAX Communications System with Air Force Base Network

Australia buys Bushmasters for Afghanistan

TE MANA successfully test fires PHALANX CIWS

Boeing Awarded Fifth USAF Combat Survivor Evader Locator Contract

LockMart Receives Contract to Upgrade Marine Corps Gunnery Trainers

Russian Helicopters shelves IPO

Senators urge Obama to freeze Asian base overhaul

Thales, Safran resume asset swap talks

US missile test deal offers hope to Marshalls slum

US finally makes famed 'Pentagon Papers' public

US, China bid to bolster military ties

US, China clash on rights but ease economic rift

US, China clash on rights but ease economic rift

MLD Test Moves Navy A Step Closer To Lasers For Ship Self-Defense

US Navy And Northrop Grumman Accomplish Goals For At-Sea Demonstration Of Maritime Laser

Scientists Build World's First Anti-Laser

Yale scientists build 'anti-laser'

The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement