RDIF and partners become anchor investors in Sovcomflot - Russia’s first IPO of 2020

Press release, 07.10.2020

Moscow, October 7, 2020 – The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and its partners from among the leading sovereign wealth funds in the Middle East and Asia have become anchor investors in the initial public offering of Sovcomflot, supporting the success of the first IPO on the Russian market in 2020.

Sovcomflot is a global leader in the maritime transportation of hydrocarbons and the servicing and support of offshore oil and gas exploration and production, as well as Russia’s largest shipping company. Sovcomflot’s owned and chartered fleet of 146 vessels is one of the largest in the industry. The company’s clients include leading Russian and global energy corporations.

Foreign investors showed considerable interest during the IPO which is testament to the company’s unique position in the global market and strong growth prospects.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund, commented:

“RDIF, the Fund's leading partners and major international investors have participated in the first IPO on the Russian market in 2020 - an initial public offering of Sovcomflot. This is a clear example of a successful IPO of a Russian company, which has a leading position both in domestic and global markets. RDIF plans to continue attracting partners among the world’s leading sovereign and investment funds to participate in privatization programs in the Russian Federation in the future.

The privatization of Sovcomflot will enable the company to actively expand in the key areas of sea energy transportation and seismic exploration. It will also help serve existing Russian and international energy projects more efficiently and participate in the development of new routes, including through the Northern Sea Route and the Arctic zone of the Russian Federation. In addition, the placement will have a positive synergy for the Russian shipbuilding industry, as Sovcomflot is one of the largest civil shipbuilding customers in the Russian Federation.”

***

Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.9 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn. Further information can be found at www.rdif.ru

Sovcomflot is Russia’s largest shipping company, and one of the global leaders in the maritime transportation of hydrocarbons, as well as the servicing and support of offshore exploration and oil & gas production. The company’s fleet (owned & chartered) specializes in hydrocarbon transportation from regions with challenging icy conditions and includes 146 vessels with a combined deadweight of 12,630,803 tonnes with an average age of 9 years. A third of these vessels have a high ice class. Further information can be found at http://www.scf-group.com/en/

For additional information contact:

Arseniy Palagin                                       Andrew Leach / Maria Shiryaevskaya
Russian Direct Investment Fund                          Hudson Sandler
Press Secretary                                               Tel: +44 (0) 20 7796 4133 
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru