MOSCOW, July 19 (RIA Novosti) - Russia's National Depositary Center will transfer Wednesday about 36.9% of the shares and Global Depositary Receipts floated by Rosneft during its initial public offering to underwriter accounts.
"The number of Rosneft's shares placed with the depositary is expected to total 415,593,400 or 36.9% of the IPO float," said the nonprofit partnership, which operates as the settlement depositary for the Moscow InterBank Currency Exchange (MICEX).
Rosneft's IPO stock will be credited to the underwriters' accounts between 12:00-13:00 p.m. Moscow time (08:00-09:00 a.m. GMT), the NDC said.
Rosneft closed the books Friday on its initial public offering - the biggest in Russian history - placing 1.4 billion ordinary shares (GDRs abroad) in Moscow and London with a total worth of $10.4 billion.
Rosneft shareholders earlier approved the signing of an underwriter agreement with ABN Amro Bank N.V. and NM Rothschild and Sons Limited (jointly operating under the brand of ABN Amro Rothschild), the London branch of Dresdner Bank AG, JP Morgan Securities Ltd., Morgan Stanley & Co. International Limited, Russia's state-run retail saving bank Sberbank and other financial institutions.
Rosneft stock is now traded on the London Stock Exchange, the Russian Trading System (RTS) stock exchange and the MICEX stock exchange.
Rosneft expects to use the IPO proceeds to repay a $7.5 billion syndicated loan, which Rosneftegaz, its parent company, received in September 2005 to acquire a 10.74% stake in energy giant Gazprom.
