Report: Russia's Rosneft plans second IPO
MOSCOW, Jan. 24 (UPI) -- Russia's state-controlled OAO Rosneft Oil Co. plans a second initial public offering, a report said Wednesday.
The Kremlin "has taken a decision in principle" to have a second public offering for shares in Russia's No. 2 oil producer, the RBK business daily reported, citing the Rosimushchestvo subdivision of the Russian Ministry of Economic Development and Trade that manages Russia's federal state property.
A Rosneft spokesman would not comment on the report.
Rosimushchestvo owns more than 75 percent of Rosneft's shares.
Last July, in one of the biggest IPOs ever, Rosneft raised $10.4 billion from a London and Moscow offering of 15 percent of its shares.
The second IPO would list "up to 25 percent" of its shares, RBK said, adding the Russian government would "keep a controlling stake" in the integrated oil company.
The company's market value at the end of 2006 was $83.908 billion, Russia's Interfax news agency reported. // Copyright 2007 by United Press International
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