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11

Rosneft to Sell its 25% Stake

Rosneft may sell as much as 25 percent of its shares

Rosneft may sell as much as 25 percent of its shares, after raising $10.6 billion last year in the country's largest initial public offering, Bloomberg reropted.

State-owned Rosneft, the country's second-largest oil producer, sold 15 percent of its shares in its IPO last July.

Nikolai Manvelov, a Rosneft spokesman, said he could not comment "on a statement made by a shareholder."

Peter O'Brien, head of financial strategy at Rosneft, said in an interview in September that the company did not plan to sell more shares. Later that month, Igor Shuvalov, an aide to President Vladimir Putin, told Vedomosti that the state would sell its controlling stake within a decade.

Rosneft is considering three possible sites for the plant near the city of Nakhodka, Kommersant reported, citing an unidentified person familiar with the company's declaration of intention for the construction project.