Russia’s Transneft to offer 30–50 bln rbl pref shares in 2017

MOSCOW, Dec 22 (PRIME) -- Russian oil pipeline monopoly Transneft plans to offer preferred shares worth around 30–50 billion rubles in 2017, Vitaly Sergeichuk, head of the Federal State Property Management Agency’s department for property relations and privatization of largest companies, told reporters Tuesday.

The shares will be offered to a wide circle of investors.

The company will use the proceeds to finance its investment program, Sergeichuk said.

The government will keep a 100% ownership of the company’s common shares, while its stake in the company’s charter capital will fall to 75% plus one share from 78% currently, Sergeichuk also said.

(71.2553 rubles – U.S. $1)

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