MOSCOW, November 22 (RIA Novosti, compiled by Peter Lavelle) - The Russian government's decision to increase the state's stake in Gazprom to 50% plus one share and allow foreign ownership of the balance puts to end what is called the "ring fence."
Gazprom's share regime before July 2005 - "ring fence"
Russian government 38.37%
Rosgazifikatsiya 0.89%
E.ON Ruhrgas** 3.50%
Gerosgas*** 2.93%
Treasury shares 14.12%
Local shares (free float) 36.77%
ADS free float 3.42%
Gazprom's share regime after July 2005
Russian government 38.37%
Rozneftegaz* 12.74%
Rosgazifikatsiya 0.89%
E.ON Ruhrgas ** 3.50%
Gerosgas*** 2.93%
Treasury shares 4.50%
Total free float**** 39.07%
* 100% state-owned
** 2.5% held directly and 1% in the form of ADS
*** 51/49 JV between Gazprom and E.ON Ruhrgas
**** Including ADS and local shares
(Source: Company data)
