"Given the IPO volume and placement price, along with share swaps linked with the consolidation of minority stakes in a number of subsidiaries, Rosneft oil company's capitalization will be $79.8 billion," the company said.
"This will make Rosneft Russia's second largest company in terms of capitalization," the statement said.
Rosneft also said it expected to complete the process of consolidation with its main subsidiaries by late 2008.
Strategic investors account for 21% of IPO bids, international investors from the U.S., Europe and Asia - 36%, Russian investors - 39% and Russian retail investors - 4%.
Rosneft's board of directors set an offer price of $7.55 per share or General Depository Receipt for the company's initial public offering, with a minimum bid of 15,000 rubles ($555).
Rosneftegaz, which holds 100% of Rosneft's shares, will float 1,126,357,616 shares and GDRs totaling $8.5 billion.
Rosneft will sell a further 253,874,997 shares in the form of GDRs totaling $1.9 billion.
Funds raised at the offering will total $10.4 billion, making it world's fifth largest IPO and the largest in Russia.
The global coordinators and book-runners for the Rosneft IPO are ABN AMRO Rothschild, Dresdner Kleinwort Wasserstein, JPMorgan Securities Ltd., and Morgan Stanley & Co. International Limited.
