KyivPost

SCM to open office in London to invest abroad

Print version
Sept. 22, 2012, 6:19 p.m. |

System Capital Management (SCM) is planning to open a subsidiary office in London by the end of the current year, according to SCM Chief Executive Officer Oleh Popov.
© Courtesy

  System Capital Management (SCM) is planning to open a subsidiary office in London by the end of the current year, according to SCM Chief Executive Officer Oleh Popov.

"The office will study opportunities to invest outside Ukraine. Most likely, we'll inject certain financial investments and see how it works," he said in an interview with the Kommentarii weekly, published on Friday.

According to Popov, the office will start work at full capacity early next year with not more than 10 employees. "SCM is not moving to London," he added.

Popov said that the opening of the London-based office was not connected with possible plans to conduct an initial public offering (IPO) or a private placement.

In his words, SCM and its companies are ready to use that form of the financing of their investment and M&A programs only if they lack own or borrowed funds.

"Generally speaking, all our businesses are ready for an IPO, and we could hold it as soon as within six months. If such need appears in 2013, 2017 or 2020, we'll do this. But now we have own and borrowed funds," he said.

SCM Group comprises Metinvest and DTEK, First Ukrainian International Bank, Renaissance Capital, ASKA and ASKA-Life insurance companies, Vega Telecommunications Group, Ukraina Media Group and Segodnya Multimedia publishing holding, ESTA Holding (real estate), Ukrainskiy Retail (retail), UMG (clay production), Parallel (petroleum products operator), HarvEast (a

The Kyiv Post is hosting comments to foster lively public debate through the Disqus system. Criticism is fine, but stick to the issues. Comments that include profanity or personal attacks will be removed from the site. The Kyiv Post will ban flagrant violators. If you think that a comment or commentator should be banned, please flag the offending material.
comments powered by Disqus

KyivPost

© 1995–2014 Public Media

Web links to Kyiv Post material are allowed provided that they contain a URL hyperlink to the www.kyivpost.com material and a maximum 500-character extract of the story. Otherwise, all materials contained on this site are protected by copyright law and may not be reproduced without the prior written permission of Public Media at news@kyivpost.com
All information of the Interfax-Ukraine news agency placed on this web site is designed for internal use only. Its reproduction or distribution in any form is prohibited without a written permission of Interfax-Ukraine.