Russia's Russneft Valued At 33.5-223B Rbls For IPO By 2 Banks

Reuters

MOSCOW, Nov 15 (Reuters) - Russneft, a Russian mid-sized oil producer, was valued at between 33.5 billion roubles and 223 billion roubles ($514.28 million-$3.42 billion) by two banks arranging its initial public offering, three banking sources told Reuters.

VTB Capital valued Russneft at 33.5-202.1 billion roubles and Aton at 145-223 billion roubles, sources said. A Russneft spokesman could not be reached for immediate comment.

Sberbank CIB and BCS are also arranging the Russneft IPO.

The road show is planned for Nov. 18, and pricing is scheduled for Nov. 25. The Gutseriyev family, the majority owner of Russneft, plans to offer up to 15 percent of the firm's share capital during the IPO.

Glencore holds a 25 percent stake in Russneft.

(Reporting by Oksana Kobzeva and Olga Popova; Writing by Katya Golubkova; Editing by Alexander Winning)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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