RLM Finsbury brought in for Russian property IPO

A firm focused on Russian commercial property has brought in RLM Finsbury ahead of flotation plans, the second London IPO with exposure to the CIS region this week.

Prime location: O1 Properties is one of the largest owners and managers of office property in Moscow
Prime location: O1 Properties is one of the largest owners and managers of office property in Moscow

O1 Properties filed its intention to float on the London Stock Exchange this morning, hoping to raise more than £250m.

The firm is incorporated in Cyprus and is one of the largest owners and managers of office properties in Moscow.

RLM Finsbury has been brought in to handle UK comms around the listing process, with London-based partner James Bradley and associate partner Anastasia Gorokhova handling the account.

Mikhailov and Partners will support comms throughout the process in Russia.

The company plans to use the funds to strengthen its market position, diversify its capital structure and funding resources, and accelerate growth. During the process, the firm will look to highlight that the take-up volume of prime office space in Moscow reached record levels in 2011, exceeding London by more than three times.

The listing potentially represents the largest Russian IPO since Buchanan-advised fertiliser group Phosagro raised $538m last year before the new listing market effectively shut in July.

Earlier this week it was announced that Citigate Dewe Rogerson had won a mandate to support the London-based privatisation of Georgia's state railway.

So far this year only Brunswick-advised RusPetro has completed an IPO on the London Stock Exchange from the CIS region.

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