Russia’s Samolet picks JPM and VTB Capital to manage share sale-source

MOSCOW, July 31 (Reuters) – Russian real estate developer Samolet Group has picked JPMorgan and VTB Capital to manage its planned Moscow share offering, a source familiar with the company’s plans said on Tuesday.

Samolet said late on Monday its shareholders had authorised the issuance of 50 million shares to be placed through an open subscription and that it planned to submit an application to list at the Moscow Exchange.

In April, sources said the company planned to hold an initial public offering (IPO) this year or next.

JPMorgan and VTB, a unit of Russia’s second-largest bank VTB , declined to comment. (Reporting by Olga Sichkar and Maria Kiselyova Editing by Maxim Rodionov)

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