OREANDA-NEWS. October 08, 2010. Russian Prime Minister Vladimir Putin has signed an order permitting state-owned monopoly Russian Railways to sell no more than 4.863 million ordinary shares, or up to 34.99 percent in its subsidiary railway container operator TransContainer, the government said in an order posted on its official website.

TransContainer CEO Pyotr Baskakov has said Transcontainer's IPO road-show could be held in October and the IPO itself in November.

In September, TransContainer's shareholders approved the sale of 40 percent of the company's shares at a price of up to 2,311 rubles (USD 77) per share valuing the whole company at more than 32 billion rubles.

Russian Railways head Vladimir Yakunin has said the company planned to sell 35 percent minus two shares of its 85 percent stake in TransContainer at the IPO.

JP Morgan Securities, Morgan Stanley, Troika Dialog, TD Investments and TCB Capital were appointed as underwriters.