United Shipbuilding Corp to float 20% in 2013

State-owned United Shipbuilding Corporation (USC) may hold an IPO to sell a 20% stake in 2013, the corporation's outgoing President Roman Trotsenko told reporters today. The stake is valued at $600m, RBC reports.

USC's order book exceeds $50bn, with revenue amounting to $6bn. The net profit of the parent company is expected to reach $2bn this year, while the net profit of the entire holding is projected at $3bn.