/REUTERS, Kiev, Nataliya Zinets, January 15, 08/ - Ukraine insurance company Oranta, under control of Kazakhstan bank TuranAlem, plans in the nearest three years to prepare to first initial public offering (IPO) on leading international exchanges, the press-service of company informed.

In the message is said, that with aims of preparation to IPO Oranta negotiated about audit with PricewaterhouseCoopers.

"The entering to IPO will take place in three years", - the chairman of board of Oranta Oleg Spilka told, whose words are quoted in the press-release.

"If the company is holding the emission independently by decagons of meeting of shareholders, as a rule are offered the shareholdings of 15%", - Spilka said, without specifying the exact volume of shares, which may be offered to investors.

By his words, as result of IPO Oranta hopes to receive additional resources for development, real estimation of cost and also to attract minority shareholders with world name.

Joint stock company Oranta, created in year 1993 on the base of former organizations of Gosstrakh of USSR, starting from year 2001 was privatized gradually.

In October of last year the Fund of state property had sold the last 25%-ge shareholding to TuranAlem, structures of which already owed with shares of company.

Oranta yet did not publish the full list of its shareholders and their stakes as of January 1.

Entering to five largest insurance companies in Ukraine, Oranta has the most branchy network - about 700 structure subdivisions in regional centers, cities and districts of the country.

By results of year 2007 Oranta had collected the record for Ukraine market sum of insurance premiums -662.3 m. hryvnas ($131 m.) compared to 386.4 m. in year 2006. Company is working also on Russian insurance market.

($1 = 505 hryvnas)

[2008-01-16]