Russian companies may draw over 40 bln dlrs by 2014 - Kudrin

LONDON, July 9 (Itar-Tass) -- Deputy Prime Minister, Finance Minister
Alexei Kudrin has agreed with the estimates Russian companies will be able
to draw on the world's stock markets more than 40 billion dollars by the
end of 2013. He made a statement to this effect on Friday in reply to a
question from Itar-Tass at a news conference following a working visit to
London.
The forecast, which suggests that by 2014 Russian companies will be
able to attract from the world's stock markets at least 40 billion
dollars, was made last Thursday by the Citigroup's director of equity
markets for Russia and the CIS bank, Steve Kale. He said the Russian
government's long-term plan for the privatization of over a thousand
companies would contribute to this.
"If we privatize packages, it will be fundraising not by companies,
but by the budget," Kudrin said. "We sell our package, in this sense, the
companies do not receive money. If we are to talk about what our companies
can draw from the world markets with initial public offerings (IPO), in
the form of shares and other securities, then yes, the 40 billion before
the end of 2013 will be attracted easily."
"The capacity of investments in our companies from the standpoint of
the second half of 2011, the whole of 2012 and 2013, estimated at 40
billion dollars is an achievable figure. The privatization process will
work as a boost. By itself it will not attract anything, but private
investors will start coming into the companies, this will increase the
attractiveness of companies and their ability to attract new investment.
Moreover, the new shareholders, as a rule, do that to develop their
companies further," Kudrin said.