Mirax set for major expansion in Russia

Russia's Mirax Group aims to become the country's leading vendor of offices and business and luxury apartments by 2010, Mirax's chairman Andrei Kletsko told delegates at the Euromoney Conference in London. Kletsko said Mirax, which issued credit notes worth $100 mln last February, plans to create a real estate fund to finance the acquisition of new projects, issue Eurobonds and launch an initial public offering following the reorganisation of the company.

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