Under the framework of the initial flotation of its shares, which had been announced earlier, RBC gave a road show for potential investors in Geneva, Lugano and Zurich (Switzerland). As a result of this event, which had been organized by ABD Consulting (Switzerland), RBC placed pre-IPO convertible bonds for a total amount of $5m and was heavily oversubscribed. At presentations RBC announced its firm intention to float about 17% of its shares by the end of the 1st quarter of 2002. The RBC Board of Directors reserved 10% of shares for future acquisitions and corporate purposes. The current management of the company also reserved the right to sell an additional 8% of its shares not earlier than 6 month after the IPO in order to increase the liquidity of the stock. In order to become a benchmark of transparency and corporate governance, RBC invited leading Western IT and media managers to the Board of Directors. In the future, RBC will set up a special web site for online communications with potential Russian and foreign investors. In view of the upcoming IPO, RosBusinessConsulting invites Russian and foreign investment banks to take part in a contest for the IPO lead manager.
A terrible accident occurred on a ski lift in Gudauri, Georgia when a malfunctioning elevator accelerated to a high speed and started crushing passengers
Acting Russian President Vladimir Putin is winning the presidential election in the country in a landslide victory
Russia's Foreign Ministry announced retaliatory measures against British diplomats: 23 Britons are to be expelled from the Russian Federation