Motor Sich Sets Sights On Equity Placement In Frankfurt
2 March 2008
According to local media reports Motor Sich (MSICH: BUY) has signed agreement with Deutsche Bank for the placement of a 15% stake on the Frankfurt Stock Exchange. According to the news Motor Sich plans to place a 5% stake in 2H07 and an additional 10% stake later. Motor Sich’s net profits reached USD 9 mln in 2006, just down from the 2005 figure of USD 9.7 mln but in line with our forecast of USD 9.1 mln. Last week the AN-148 received certification for serial production which should mean a big surge in sales for MSICH.
