Sovcomflot privatization route almost certain to be IPO

Sovcomflot privatization: Sovcomflot (SCF), one of Russia’s biggest shipping companies that specialises in the transportation of oil, oil products and liquefied national gas, looks almost certain to be sold off via an IPO after the state-run property management agency Rosimushchestvo and the Ministry of Economic Development effectively agreed that this was the optimum route for its privatisation. It is unclear which stock exchange will be chosen for the IPO,  although Moscow is  currently favourite.
The Fitch Rating Agency revised SCF’s rating upwards from negative to stable two months ago, noting that the  revision reflected “the improvement of Sovcomflot’s financial profile in 2014 and our expectations for a stronger than previously forecast performance in 2014 and over 2015-2017, mainly driven by a tanker shipping sector recovery.” The timing of the IPO remains uncertain. ITAR-TASS