Business

Oil company Rosneft to launch IPO in Q3 - Gref

18:49 05/04/2006

MOSCOW, April 5 (RIA Novosti) - Russia's economics minister said Wednesday that state-owned oil company Rosneft would float an initial public share offering in Q3 2006 as planned.

"We have not changed our plans so far," German Gref said.

He said the company's IPO schedule would be finally endorsed next week, and that the offering was planned for the third quarter of the year.

Earlier Gref said the Rosneft IPO could take place in October.

Many experts say Russian companies are heavily undercapitalized and need to raise their market capitalization in the face of increasing competition from Western companies.

Add to blog
Send to friend
Share

Add to blog

You may place this material on your blog by copying the link.

Publication code:

<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/business/20060405/45355434.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/business/20060405/45355434.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;"> Oil company Rosneft to launch IPO in Q3 - Gref</strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">18:49</span> <span style="color:#5590bf; padding-right:7px;">05/04/2006</span> <span style="font-size:12px;">He said the company's IPO schedule would be finally endorsed next week, and that the offering was planned for the third quarter of the year.<a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/business/20060405/45355434.html" title=" Oil company Rosneft to launch IPO in Q3 - Gref">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>

Preview:

Oil company Rosneft to launch IPO in Q3 - Gref

18:49 05/04/2006 He said the company's IPO schedule would be finally endorsed next week, and that the offering was planned for the third quarter of the year.>>

Other news of the day