Domodedovo airport has moved to the active preparation for placement phase. In spite of planned IPO, only the private placement is being considered at the moment. According to the sources, Domodedovo has performed the road show for “decided” funds, which are potential customers for its shares, on April 18th-19th. The airport has stated that it plans to place shares to the amount of $1 billion at the end of July. Domodedovo has not given any further comments.

 

Airport’s financial indicators have been unveiled for the first time during the road show. According to the source, close to the potential placement details, Domodedovo’s revenues for 2010 were more than 12,8 billion rubles (it has serviced 21,4 million people in 2010), and airport’s net profit was 7,7 billion rules. Vnukovo’s part-owner, Vitaliy Vantsev is not surprised by these figures: "This is it. Domodedovo earns a lot during handling, cargo handling, aircraft refueling, in-flight meals and parking". If all the Vnukovo’s assets are to be consolidated (serviced 9,5 million people in 2010), they would bring around $100 million, says Vantsev. "Thus, we have approximately the same correlation between the number of serviced passengers and the net profit ", — he adds.

 

Domodedovo is the largest Russian airport by the passenger traffic. Its assets are structured in accordance with lines of activity in 12 companies with FML Ltd, registered at the Isle of Man, acting as beneficiary. Domodedovo’s chairman of the board, Dmitriy Kamenshik, and head of supervisory board, Valeriy Kogan are considered to be the owners of Domodedovo.

 

The airport’s representatives have mentioned the possibility of IPO in 2006; however these plans have not been implemented. Reuters agency has reported last autumn that the airport has returned to the idea of IPO and it plans the shares placement on April 2011. Goldman Sachs, Morgan Stanley and J. P. Morgan have been selected as placement organizers. According to Reuters, Credit Suisse is also among the IPO’s organizers. It is planned to place the securities of DME Airport Ltd, registered on Cyprus in March. A source close to Domodedovo explains, that the airport’s beneficiary try to protect their business from possible nationalization by selling the shares to the international investors. The possible nationalization has supposedly been discussed in the network of all the Moscow Air Cluster airports’ unification under the State control.

 

However, the source close to the placement details says that the final decision has not been made yet. "Meetings with the investors are preliminary,— he explains.— The final decision on shares placement will be made after the May holidays "