FBK Completed a Comprehensive Project for RUSNANO

The experts of FBK Valuation Department provided advisory support in the process of fair value appraisal for RUSNANO project financial investments, and the specialists of the FBK International Financial Reporting Department rendered assistance in the preparation of Company’s reporting in accordance with IFRS for 2013.

FBK Partner Askold Birin, the International Financial Reporting Department director, points out that the project implemented for RUSNANO has no analogues is the Russian practice in terms of scale – a comprehensive preparation of reporting documents and valuation of assets of the investment company were carried out. “Because of the nature of the business and the status of the client their performance indicators attract a great public interest not only of the company’s shareholders but also of the state run public authorities and other users. Therefore it is so important to have objective reporting under IFRS”, added Askold Birin.

According to Alexander Matyushin, the FBK Valuation Department deputy director, the project specifics is that RUSNANO is one of the largest Russian companies investing in the enterprises of a whole range of industries at different project implementation stages and from different sources both own and credit. “Together with the authoritative international partners we succeeded with the development and application of appraisal methods for the enterprises in the field of high technologies, taking into account the specifics of project financing mechanisms, the jurisdictions of the companies under appraisal as well as the fact that production of high-tech projects is unique and the usual assessment techniques require substantial refinement”, clarified Alexander Matyushin.

RUSNANO is one of the largest venture companies in Russia, it contributes to the implementation of the state policy in the nanoindustry development by investing in high-tech projects generating new production facilities in Russia, makes for the infrastructure development in the sphere of nanotechnologies. The Company’s total investments in 2013 amounted to 16.4 bn roubles.

FBK provided advice to the company on the international reporting during the whole period of preparation of the reporting statements under IFRS.