22 Jul '10
St. Petersburg developer Imperia has announced plans to sell 49% shares in the business and raise about $415m.
Under plans, the company is to sell 20% shares through private placement by the end of 2010.
In a year the company intends to sell up to 29% shares through IPO, the firm said.
The raised funds are reportedly to be invested into the company’s development. Specifically, the company intends to purchase several office buildings.
Imperia holding owns 14 Senator business centers, street-retail shops, 520 hectares of land and Vechnaya Molodost (Eternal Youth) Fund, which invests into scientific research.