Russia’s RussNeft says sells shares at 550 rbl/shr at IPO

MOSCOW, Nov 25 (PRIME) -- Russian oil company RussNeft has sold shares under its initial public offering (IPO) at a price of 550 rubles per share, the company said in a statement on Friday, confirming an earlier report by Bloomberg.

Market capitalization of common shares at the offer price amounted to 161.8 billion rubles. The offer amounted to 58.822 million shares, or 32.4 billion rubles at the offer price and accounts for 20% of common shares, or 15% of capital.

All settlements and secondary trading at the Moscow Exchange will take place on Friday.

According to RussNeft’s materials, Belyrian Holdings of the Gutseriyev family and its affiliates used to own 75% of the charter capital in the company, or 67% of the common stock, while the remaining part was owned by oil trader Glencore Plc and its affiliates.

Belyrian Holdings announced the sale of 15% earlier this year.

(64.6279 rubles – U.S. $1)

End