MOSCOW, June 5 (RIA Novosti) - LUKoil [RTS: LKOH] is considering plans to float on New the York Stock Exchange in two years' time, a company vice president said Monday.
Leonid Fedun said Russia's largest independent crude producer could enter first or second level ADRs on the NYSE.
The vice president also said the company had set up a special group that was bringing LUKoil's documents into line with U.S. legal requirements.
The crude producer is also looking to extend licenses for hydrocarbon production up to 20 years in accordance with NYSE rules.
The company's securities are already floated on the London Stock Exchange (LSE: LKOD). In 2005, LUKoil ADRs increased 50% on 2004 from $1.8 billion to $2.7 billion. The market value soared more than 95.7% per share last year.
LUKoil securities are included in the RUXX (Russian Industrial Leaders Index), which is a composite economic index of 17 Russian companies with financial instruments (shares and depository receipts) placed on bourses including the New York Stock Exchange, the London Stock Exchange, the Nasdaq and AMEX.
