Svyazinvest, the largest telecommunications operator in Russia, met investors in Hong Kong late last month to gauge interest in a potential share sale here by way of Hong Kong depositary receipts, sources said.
The firm, which is 75 per cent owned by the government, launched the non-deal roadshow in Hong Kong in the last week of October and told investors the city would be one of the markets that could help them raise fresh funds in the future, said an investor who was invited to the meeting.
Singapore, London and New York were other possible venues.
'They didn't give us too much financial information or the profit preview about the company as the meeting was only a background briefing,' the investor said.
'From what I understand, some cash-rich funds have shown interest in buying shares in Russian companies given its huge growth potential, but would like to wait a bit due to the current financial slowdown.'
Svyazinvest declined to comment.