Moscow Times 13 November 2012
UTAir, Russia’s third-biggest airline, is considering raising $100 million to $350 million via a share float abroad. Igor Petrov, the company’s financial director, said UTAir’s controlling shareholders would decide about the number of shares UTAir might float through an IPO or private placement, Vedomosti reported Monday. Surgutneftegaz’s nongovernmental pension fund owns 60.67 percent of UTAir.
