Xbiz article on AFF IPO. Russian Bank?
 

Interesting article on xbiz talking about the AFF/Penthouse IPO. Russian bank is now backing the IPO. The russian bank is underwriting the IPO.

Per xbiz: Renaissance Capital is based in Moscow but has satellite offices across Eastern Europe, the U.K., in Nigeria and in New York.

A questionable company with questionable practices now getting the backing of an eastern european bank and nigeria. I smell dirty laundered money. Just my thoughts. Don't ban me for that opinion, but going to a Russian bank for underwriting an IPO for $500MM with $48mm in revenue is iffy..

Ouch

Offices in Nigeria? Holy fuck... what is wrong with this picture?

I wonder if they can pay me with stock shares instead of dollars

ummmm..... wtf

there are now more 7 figure and up individuals in Russia than anywhere in the world fyi.

would a bankrupt investment bank from the US do a better job?

LOLOLOL

By scammers, for scammers.

yes the choice of Renaissance Capital is a very interesting option. But that in itself is nothing weird. As Ren Cap is a large global investment bank
Take a look at their history in equity markets
http://www.rencap.com/eng/project/project.asp

They could have picked any # of US underwriters you've never heard of, now that would have been seen as a joke.

another interesting bit, Renaissance Capital is #1 in google under IPO. guess they're doing something right.

Revenue was 240+ million, not 48.

On September 23, 2008, Fitch a financial rating company has downgraded Renaissance Capital's individual rating to D from C/D and changed the outlook on the bank's long-term issuer default rating to negative from stable.

Sounds like par for the course for iBill/Penthouse/AFF... :helpme

ADG

http://www.renaissancegroup.com/about_us/management.asp

Richard Olphert
Hans Jochum Horn
Stephen Jennings
Neil Harvey
Steven Wootton

it'll make for an interesting IPO for sure. Love to call up a major broker and tell them to ride my fortune on stock AFF. Awesome

nice looking stock, what a plummet