19:21 19/05/2006

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LONDON, May 19 (RIA Novosti) - Most shares in a planned 3Q06 IPO of Rosneft, a state-owned oil company, will be floated on the London Stock Exchange, Russia's economics minister said Friday.

German Gref said the company's board would meet in June to specify the date of the initial public offering, which could be Russia's largest IPO to date.

He said the value of the IPO would be between $8 billion and $20 bln.

"Eight billion [dollars] ... is the debt which should be repaid, and the rest will be used for the company's current needs," Gref said.

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<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/russia/20060519/48363664.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/russia/20060519/48363664.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;">Most Rosneft IPO shares to be floated in London - Gref</strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">19:21</span> <span style="color:#5590bf; padding-right:7px;">19/05/2006</span> <span style="font-size:12px;">LONDON, May 19 (RIA Novosti) - Most shares in a planned 3Q06 IPO of Rosneft, a state-owned oil company, will be floated on the London Stock Exchange, Russia's economics minister said Friday. <a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/russia/20060519/48363664.html" title="Most Rosneft IPO shares to be floated in London - 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>

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Most Rosneft IPO shares to be floated in London - Gref

19:21 19/05/2006 LONDON, May 19 (RIA Novosti) - Most shares in a planned 3Q06 IPO of Rosneft, a state-owned oil company, will be floated on the London Stock Exchange, Russia's economics minister said Friday. >>

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