Russia’s UCL Holding, which manages the transport assets of steel tycoon Vladimir Lisin, is looking to list its rail, shipping and stevedoring firms according to Lisin’s son.
Dmitry Lisin told Reuters that his father is considering IPOs for Freight One, Russia’s largest private railway operator; UCL Port, which manages port assets in the Baltic, Black and Azov Seas; and Volgo-Balt Transport Holding, which manages shipping and shipyard assets.
“If the investment activity on the transportation market improves, then the most practical and the best thing to do is an IPO … We are talking to various Russian and Western companies and are on the lookout for investors,” Lisin said.
“We will continue to develop our transport assets. Transit options via Russian ports should be improved,” he added.
Volgo-Balt Transport Holding operates Okskaya Shipyard and three shipping subsidiaries including Volga Shipping Company, North-Western Shipping Company and VF Tanker which have a combined fleet of more than 300 vessels.