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.
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