MOSCOW, October 18 (RIA Novosti) - Russia's United Aircraft Corporation (UAC) said on Thursday it intended to hold an initial public offering on Russian bourses in late 2009 and early 2010 to the sum of $1-1.5 billion.

The UAC was established earlier this year to help overcome the crisis in Russia's aircraft industry, and incorporates many of the country's best-known aircraft builders, including Mikoyan, Ilyushin, Irkut, Sukhoi, Tupolev, Yakovlev and other enterprises in the industry.

A UAC official also said the corporation would float newly issued shares representing 10-15% of its charter capital by closed subscription in 2008, adding that Russia's government-controlled foreign economic bank Vnesheconombank could participate in the offer.

The UAC, which is 90% state owned, incorporates aircraft building companies and state assets engaged in the manufacture, design and sale of military, non-military, transport and unmanned aircraft in a bid to streamline the Russian aviation industry.

The UAC official also said the company would borrow about 120 billion rubles (about $4.8 billion) by 2012.