Russian Helicopters is planning to raise about $500 million through an initial public offering (IPO), The Wall Street Journal reports. The company will issue new shares and global depositary receipts worth $250 million, while the remaining amount will be raised through the sale of existing shares offered by the company’s major shareholder, the Oboronprom military hardware unit of Russian Technologies. The shares will be listed on the London Stock Exchange and the Moscow Stock Exchange. The proceeds from the share sale are expected to be used by the company to repay debt and shares in subsidiaries. Bank of America-Merrill Lynch, BNP Paribas and VTB Capital are managing the IPO.

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