Russia’s United Shipbuilding may hold IPO in 2013

Russia’s state-run United Shipbuilding Corporation (USC) may sell 20 to 30 percent of its shares in an initial public offering in 2013, according to USC President Roman Trotsenko. Russia accounts for approximately only 0.4 percent of global civilian shipbuilding and slightly over three percent in military shipbuilding, and USC is currently engaged in exclusively military production. However, USC has announced plans to move towards added civilian output in the future in an attempt to create a Russian corporation analogous to the American shipbuilder Northrup Grumman. In addition to its potential IPO, USC is currently in the process of valuing the shipbuilding assets of United Industrial Corporation with an eye towards purchasing those assets.