- Rostekhnadzor increases capital "of high-precision systems"
State Corporation Rostekhnadzor completes the holding of precision weapons on the basis of
That Rostekhnadzor modified the plan of forming the holding of high-precision weapons, their parts and components, "b" said a source close to the corporation. He said the directive signed by Rostekhnadzor to vote at the next board of directors of the NGO "High-complexes" (council headed by former presidential envoy to the Central Federal District Oleg Govorun). Members of the Board to approve the recommended parameters of the additional issue of shares, after the placement of which will increase its registered capital to 55 billion rubles. (Now it is 15 million rubles.).
"We are talking about the issue of NGOs additional shares in an amount up to 55 million par value of 1 thousand rubles." — Said the source "b", adding that as the payment of additional issue Rostekhnadzor will make the share capital of the holding company's shares in 16 of its controlled ( most of them are already included in the holding company formed by the nominally their shares are still owned by the corporation). Initially the board meeting was scheduled for yesterday, but was postponed and will be held in the coming days, said, "b" in Rostekhnadzor.
The holding company in the design and manufacture of high-precision weapons NGO "High-complexes" formed by order of the Director General of the State Corporation "Russian Technologies" Chemezov on January 11, 2009. Now holding company includes 11 enterprises, including those of CPP, Inc. "KB precision engineering them. AE Nudelman ", JSC" Tulatochmash ", stated on the website of NGOs. They produce missile, artillery and infantry systems, including anti-aircraft "Armour-C1" and anti-"Cornet-M". Revenue for the year 2011 — 134 million rubles., Net profit — 4,260,000 rubles., Accounts receivable — 7,850,000 rubles.
Plans Rostekhnadzor capitalize JSC "NPO" High-complexes "became known late last year when the corporation announced a change in the composition of its holdings. It is assumed that as a result it will have eight defensive holdings and five civilians, most of whom Rostekhnadzor plans to bring to the IPO. It was also announced the transfer of the NGO "High-precision systems' assets outside Moscow NPK MSC, a developer of anti-aircraft missile complexes" Igla-S "and tactical" Iskander-M ". It goes NGOs should be the parent organization of the holding of high-precision weapons, spare parts and accessories, according to a source, "b", close to the Rostekhnadzor. According to him, "High-precision systems" were going to put an additional issue of shares for a total amount of 20 billion rubles., Which is planning to buy state-owned corporation, paid through the transfer of shares in seven of NGOs. Moreover, on February 14, the Federal Financial Markets Service registered the issue of 20,000,000 shares of the NGO "High-complexes" value of 1 thousand rubles., Giving it the number 1-01-13470-A-001D, stated on the website service.
However, Rostekhnadzor suddenly decided to increase the amount of the additional issue up to 55 billion rubles. "This is a purely technical point related to the completion of the evaluation of the transmitted NGOs enterprises. The cost of these assets was higher, "- said the" Y "a source in the corporation. According to "Kommersant" asset valuation conducted Rostekhnadzor LLC "Aspiration". «Previous size of the additional issue of 20 billion rubles. does not solve the major problems posed to the holding company, "- according to sources in the" high-precision complexes. " One of them said that it is also determined by the head of the organization in the field of operational-tactical and tactical missile systems for the Army. In this regard, Rostekhnadzor decided to transfer "high-precision complex," shares another nine companies, including JSC "Institute" Signal ", JSC" Highland Electromechanical Plant ", JSC" SKB "Turbine" ", OJSC" Saratov Assembly Plant "and several others. It is assumed that the formation of a holding company structure on the basis of the NGO "High-precision systems" will be completed by the end of May 2013, the interviewees say "b".
Increase in share capital "of high-precision systems" will help to attract Rostekhnadzor budget for capital investments, confident senior partner firm "Egorov, Puginsky, Afanasiev and Partners" Stanislav Puginsky. "In accordance with the budget law, federal funds for capital investments are made into a corporation in exchange for its shares. Thus, the larger the share capital of the more budget it will be able to attract and the less will be the share capital of the company in the Russian Federation ", — he said," b. "
"State registration of the issue of shares of the issuer means that an additional issue carried out, but judging by the corporate procedures NGO" High-precision systems, "it is not yet available," — says the managing partner of law firm "Karabayev and partners," Sergei Karabayev. In his opinion, to increase the amount of placed securities of up to 55 billion rubles. JSC will have to initiate another additional issue. Then it all depends on the tactics of the board of directors, for example it may be decided to place two issues at the same time, he argues. "This is the first step to a successful IPO, since the increase in share capital through transmission companies holding company makes more understandable and attractive asset" — sums up the expert.
Michael Park of "Aton" thinks it "high-precision systems" to the IPO may not happen before 2016. "I'm afraid to make an assessment of these enterprises will be difficult, because not all of them are open transparent reporting. In addition, to attract investors need to show accountability for at least one or two years of the holding. Thus, in 2016 it seems to me the most optimistic timeframe for entering the IPO », — says the analyst.