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2011 May 17   06:39

Russian Govt sells it stake in Murmansk Shipping Co

Federal Agency for Management of State Property (Rosimushchestvo) today will announce the results of the auction for selling state-owned 25.5% stake in JSC Murmansk Shipping Company (MSC), the agency's official statement said.

The authorized capital of JSC MSC is RUB 943,454 and is divided into 943,454 of ordinary stock of par value of 1 ruble each. 240,581 will be put up for action. The initial price of the state-owned shares is set at RUB 958 million.

Murmansk Shipping Company specializes in shipping of general cargo and passengers. The holding’s fleet comprises 300 ships of total deadweight of about 2 million tons. The main shareholders are LLC Arctic Technology (62.7%) and Russian Government (25.5%).

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