Gazprom’s unit sets share placement price at 220.72 rbl apiece

MOSCOW, Nov 22 (PRIME) -- Gazprom Gazoraspredeleniye, a subsidiary of Russian gas giant Gazprom, has set the placement price of 850.591 million shares in the parent company at 220.72 rubles apiece, Gazprom said in a statement on Friday.

The price means an 11% discount to the closing price on the Moscow Exchange on Wednesday and a 13.2% discount to Thursday’s closing price. It values the whole stake at 187.7 billion rubles.

The shares account for a 3.59% stake in the company – a part of a 6.64% quasi-treasury stake the company planned to sell. On Thursday, the company collected 479 bids worth a total of 237.75 billion rubles.

In July, Gazprom’s subsidiaries Gazprom Gerosgaz Holdings BV and Rosingaz Limited, registered in the Netherlands and Cyprus, respectively, sold 2.93% in the parent company to an undisclosed buyer at 200.5 rubles apiece, or a total of about 139 billion rubles.

(63.8430 rubles – U.S. $1)

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