The Manx-based operator of Russia’s busiest airport is putting together plans for a stock market float which could raise as much as a billion dollars.

Moscow's Domodedovo airport operator DME is registered in Castle Street in Castletown and says the initial public offering is expected to offer existing shares in the form of global depositary receipts to international institutional investors.

The firm is marketing the offer over the course of the next month, with pricing expected to take place in early June.

Under DME’s ownership, Domodedovo has grown to become the largest airport in Moscow, handling 22.3 million passengers in 2010.

The airport was the scene of a suicide bombing in January that killed 36 people.