MOSCOW, May 29 (RIA Novosti) - Russian insurance company RESO-Garantiya said Tuesday it intended to float 20% of its charter capital at an initial public offering, but gave no details on its timeframe.
RESO-Garantiya, one of the country's top five insurers, intends to offer up to 6.2 million ordinary shares to investors in Russia and abroad.
The company's stock has been admitted to trading on the "V" lists of the RTS and MICEX bourses under the ticker RESO, the insurer said.
Deutsche Bank, Dresdner Kleinwort and Morgan Stanley are joint global managers and bookrunners of the insurer's share offering, RESO-Garantiya said.
RESO-Garantiya, which was established in 1991, currently has charter capital of 3.1 billion rubles (about $120 million) divided into 31 million shares with par value of 100 rubles (about $3.8) each.
