HONG KONG: VTB Capital, the investment banking arm of Russia's number two lender VTB , expects to help Russian firms raise billions of dollars through listing on the Hong Kong stock exchange in 2011, its president Yuri Solovyov said on Sunday.
We are planning to place "billions of dollars, because the market is characterised by high liquidity", Solovyov said during a visit to Hong Kong.
"This is one of the most liquid markets globally, and therefore the companies we are representing here will be sufficiently capitalised."
Solovyov did not name specific companies, but firms such as VEB, Russia's state development bank, and power company Eurosibenergo have previously said they were considering listing in Hong Kong.
He added Russian energy, commodities, transportation and consumer firms were eyeing listing in Hong Kong where his firm planned to set up a branch office in 2011 to boost presence.
"We will hire around 30 people this year," he said.
Solovyov is part of Russia`s business delegation accompanying President Dmitry Medvedev on his trip to Hong Kong, the first ever such visit by a Russian leader.
Asked about VEB`s plans to take yuan loans worth $500 mln this year and the possibility of VTB capital promoting this segment of business among Russian investors, he said VTB Capital was planning to promote the segment of yuan-rouble currency trade to Russian investors.
"We are also planning to develop currency trade between Russia and Hong Kong, and we think that the transition of trade transactions into national currencies... is very strategically important to us," he said.
"We are the only bank which trades these currencies in Russia and Shanghai and we will continue that in the future. We are also carrying these operations with HK banks."
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