RUSSNEFT PLACED 196 MLN RUBLES ISSUES WITHIN SHARES SPLITTING
Moscow. The Company placed 98,032,000 of the privileged shares with 50 kopecks nominal value. The ordinary shares amount makes up 49,019,000 rubles. The ordinary shares issue involved placement of 294,120,000 shares with the same nominal value generally in the amount of 147,060,000 rubles.
Earlier RussNeft completed secondary offering placement of the privileged shares in the amount of 15,683 securities. The new issue of the privileged shares of the oil company makes up 15,683 securities with 1 thousand rubles nominal value each. Besides RussNeft placed another secondary offering which consists of one ordinary share with 1 000 rubles nominal value. After these two offerings RussNeft charter capital makes up 196,076,000 rubles and contains 196,076 shares, 147,060 of ordinary shares and 49,016 of the privileged shares. The amount of the privileged shares in the Company’s share capital reached 25%.
It was reported on the 6th October that RussNeft made a decision to split the shares. As the Company said the nominal value of the shares makes up 50 kopecks against 1 000 rubles earlier.
The nominal value was reduced with the aim of attract investors, natural persons, for the primary placement, RussNeft said before. This will make RussNeft securities more attractive for the natural persons, the source explained.
RussNeft decided that way according to recommendation of the consultants to provide the necessary amounts of shares for the exchange trading. All the shares were split, including the privileged shares.
Earlier Mikhail Gutseriev, the Head of the Company, said he intends to sell not less than 10% of its shares through IPO, specifying that only RussNeft will be offered for the IPO.
Russneft is co-owned by Glencore trading company, which had 46% shares of the Company. As said before, Glencore interest in the Company was rediced to 25% after redemption of the debt by RussNeft to the trader.