Private placement of 10% shares in Rusnano will be organized by the banks Merill Lynch and VTB, innovation and venture news source UNOVA reports citing Anatoly Chubais, the chairman of the board of Rusnano.

“The placement will be organized by the consortium, including Merrill Lynch and VTB. This is the reason I met here, in Davos, Switzerland, the president of Merrill Lynch and VTB. We discussed tactics for 2012, as well as strategic issue of increasing the share of private capital in Rusnano,” Mr. Chubais said.

According to him, at the first stage most of these 10% will go to institutional investors. He also believes that the company needs both Russian and foreign investors with good reputation that can invest funds into the high-technology company.

Answering the question on when the private placement will take place, the head of the corporation said it would happen by the end of 2012.

“Of course, it will depend on the situation on the market, but it would be nice to finish everything by the end of the year. But it will only happen in case of no negative events at the financial market, and unfortunately, such risk persists,” Mr. Chubais underlined.

In summer 2011 the government suggested to expand privatization of the largest Russian companies and banks and approved Rusnano’s decision to sell 10% shares.

In November of the same year Mr. Chubais confirmed that 10% shares in the nanotechnological corporation would be sold to an investor. “Of course, at this stage it would not be right to speak of an IPO, but to speak of private placement would be very correct. That means choice of the right strategic investors,” he said.