Sistema-Hals Announces Increase of Credit Facility
OREANDA-NEWS. September 14, 2010. Sistema-Hals OJSC (LSE, MICEX: HALS), one of the leading diversified companies on the real estate market of Russia and the CIS, announces the increase of a credit facility contracted by Bank VTB on June 30, 2009 up to RUR 17.4 bln. The credit facility is to be used for current activity and project financing as well as refinancing.
Sistema-Hals ("the Company") is one of the leading diversified company in the Russian and CIS real estate market.
The Company was the first Russian property developer to list its shares on the main market of the London Stock Exchange. The Company's shares are also listed on the Moscow Interbank Currency Exchange and the Moscow Stock Exchange and the Russian Trading System Stock Exchange.
Main shareholders of Sistema-Hals are Bank VTB (51.24%) and AFK "Sistema" (27.6%); free float is about 18%.
Starting operations in 1994, Sistema-Hals has successfully completed about 40 projects with a total area over
Sistema-Hals implements the development of the
Sistema-Hals has assembled a balanced and diversified portfolio of assets in fast-growing sectors of the market. The Company's strategy is focused on building Class A and B office space, multifunctional retail and office complexes, business-class residential buildings.