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Russian Oil Giant Shares Attract Malaysia's Interest

Malaysia's national oil company Petronas said it is considering acquiring a stake in Russian firm

Malaysia's national oil company Petronas said it is considering acquiring a stake in Russia's state oil giant Rosneft after its first IPO in London.

"We have been invited to participate in the IPO. That's where we are today," said Petronas chief executive Hassan Marican.

Rosneft has said that the subscription period for shares under its IPO in London and Moscow would last from June 26 to July 10.

Rosneft has said it will raise as much as US$11.6 billion when its shares are listed on the stock market in the eagerly awaited IPO.

The listing on the London and Moscow stock exchanges, which is attracting growing controversy because of the company's business background, is expected as early as this month.

Petronas is among four companies Rosneft has approached to offer strategic stakes worth between US$50 million and US$1 billion, Bernama said.