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Rambler’s Owner ProfMedia to Do $1 Billion IPO in 2010

Files under: News
Posted by: Quintura @ 03:17 [23. 12. 09]

Russian media and entertainment group ProfMedia, which has acquired a 88 percent stake in leading Russian online portal and search engine company Rambler Media, has decided to de-list Rambler from the Alternative Investment Market (AIM) of the London Stock Exchange. The de-listing will be completed before the end of 2009.

ProfMedia intends to raise between $0.8 billion and $1.0 billion via sale of some 40 percent at IPO on London Stock Exchange in April 2010, recently reported Vedomosti newspaper. The IPO, which would value ProfMedia at over $2 billion, is going to be managed by investment banks, Merrill Lynch and Credit Suisse, the newspaper said.

Founded in 1997, ProfMedia is the largest diversified media holding in Russia. ProfMedia is owned by Interros, one of Russia’s largest private investment companies. ProfMedia generated revenues of $639 million and EBITDA of $171 million in 2008, according to Vedomosti.

In film and entertainment, ProfMedia owns a nationwide chain of multiplex cinemas Cinema Park and controlling stake in Central Partnership, Russia’s leading movie production and distribution company.

In TV broadcasting, ProfMedia owns a nationwide TV entertainment network TV3 and TV animation channel 2×2, as well as music TV channels MTV Russia and VH1 Russia.

In radio broadcasting, ProfMedia owns FM radio stations Avtoradio, Energy, Humor FM and Radio Alla.

In print media, ProfMedia owns Afisha that publishes such magazine titles as Afisha, Afisha-Mir, Afisha-Eda, and Bolshoi Gorod (Big City) as well as the Afisha guide books.

In Internet, ProfMedia owns online portal and search engine Rambler Media (Rambler.ru) and Afisha.ru, leading Russian online entertainment portal operated by the Afisha publishing house.

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