LSR Group Obtains FFMS Permission for Share Circulation Outside the Russian Federation
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06 June 2008
Today, on 6 June 2008, OJSC LSR Group has received notification from the Federal Financial Markets Service (FFMS) regarding the issuance of permission for circulation of 14,465,952 ordinary registered book entry shares outside the Russian Federation.
The number of LSR Group shares currently in circulation outside Russia is 9,353,531.
Notes to editors:
OJSC LSR Group is a diversified construction company founded in 1993 and operating in a number of complementary market segments. Its core business areas are building materials, construction and real estate development. The Group includes enterprises for extraction and processing of aggregates, production and transportation of building materials, and housing construction — from mass market large-panel housing to elite property built after designs made by leading domestic and foreign architects.
LSR Group has operations and offices in a number of cities in the Leningrad Oblast, in St.Petersburg, Moscow, Yekaterinburg, Lithuania, Latvia, Estonia, Ukraine and Germany. LSR Group employs over 15,000 people.
In 2005 and 2006, the revenues of LSR Group (according to IFRS statements) were $ 463 million and $ 777 million respectively. In 2007, the revenues amounted to $ 1,403 million.
In November 2007, OJSC LSR Group implemented an IPO, and now its GDRs are listed on the London Stock Exchange, and the shares - on MICEX and RTS.
LSR Group has a B1 rating, outlook — stable assigned by Moody's Investors Service (assigned in July 2007 and confirmed on May 30, 2008), and a B+ rating, outlook — stable assigned by Fitch Ratings (assigned on May 30, 2008).
In 2007, LSR Group was bestowed a National Award in the field of business as 'The Company of the Year' in the 'Construction' category.
For more details please contact:
Press Service, LSR Group
+7(812) 314-1044
press@lsrgroup.ru
www.lsrgroup.ru