The initial public offering of Russia's Ilyushin Finance leasing company may take place in 2011 on both Russian and Hong Kong markets and is planned to raise $250 million, Alexei Fyodorov, head of United Aircraft Corporation, one of Ilyushin Finance's core shareholders, said on Monday.

"Last Friday, we held a board meeting, and the shareholders supported the idea of holding an IPO in 2011. We are going to place our shares at the same time on markets in Russia and Hong Kong, or at the beginning of 2011 on Russian markets, and then in Hong Kong," Fyodorov told journalists.

MOSCOW, July 19 (RIA Novosti)