Russia's Russneft Shareholder To Offer 20% Of Ordinary Shares In IPO

Reuters

MOSCOW, Nov 14 (Reuters) - Russia's tycoon Mikhail Gutseriyev and his family are planning to sell up to 20 percent of ordinary shares in a mid-sized oil company Russneft in an initial public offering (IPO) by the end of 2016, Russneft said in a statement on Monday.

The share that Gutseriyev and his family, who own the controlling stake in Russneft, are planning to sell on the Moscow Exchange account for 15 percent of Russneft share capital.

The Gutseriyev's family controls 75 percent of Russneft share capital, or 67 percent of all ordinary shares, while the rest belongs to commodities trader Glencore.

(Reporting by Katya Golubkova; Editing by Andrey Ostroukh)

Copyright 2016 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Commercial Director - Terminals
Expertise: Business Development
Location: South Carolina, 
 
Senior Engineer New Rule Implementation
Expertise: Engineering Manager|Environmental Engineer
Location: Deer Park
 
Senior Legal Counsel - Houston, TX
Expertise: Legal
Location: Houston-EP Center Americas, United States, 
 
search for more jobs

Brent Crude Oil : $54.46/BBL 0.96%
Light Crude Oil : $51.68/BBL 1.21%
Natural Gas : $3.44/MMBtu 1.99%
Updated in last 24 hours