Russian trucking giant plans flotation

Globaltruck Management, one of the biggest full truck load carriers in Russia, is to float on the Moscow stock exchange.

The company is a leader in the Ural and Siberian markets. It intends to use the proceeds from the offering to support its growth through capital investment and to make targeted acquisitions when appropriate.

Alexander Eliseev, the group’s co-founder and chief executive, said: “The Russian road freight industry represents an outstanding opportunity for growth for a company that provides high quality, wholly reliable service, as Russian and international retailers and other businesses expand across the country.

“We believe Globaltruck is that company, with our track record of expansion and leadership in growth regions and e-commerce.

“This IPO is an important milestone in Globaltruck’s history that will enable us to significantly expand our fleet, help to further strengthen the Group’s position and provide an opportunity to lead the consolidation of our sector.”