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23

Rosneft to Surpass 30 pct IPO Volume Limit

There are several options, a final decision has not been taken yet

Russian state-owned oil major Rosneft is likely to sell more than the legally-required minimum of 30 percent ot its shares to Russian investors.

?There are several options, a final decision has not been taken yet, a discussion is going on,? Rosneft?s CEO Sergei Bogdanchikov told Russia?s Kommersant daily in an interview.

?But certainly it is more than 30 percent of the total (IPO) volume.?

He said the final decision on the IPO?s conditions and timing would be taken by the board of Rosneft?s parent company, Rosneftegaz, which is due to meet on June 23 and July 13.