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12

Gazprom To Be Large Blue Chip

The Russian government will lift restrictions for foreign investments of Gazprom company

The Russian government will lift restrictions for foreign investments of Gazprom company this fall. This will turn the national gas giant into the world?s second-largest emerging markets blue chip after Samsung.

The government has promised to open up trading in Gazprom by the end of the year, but the exact timing depends on the passage of a raft of legislative changes the deal requires.

President Vladimir Putin also has to sign a decree repealing an existing 20 percent cap on foreign ownership of Gazprom equity.

Foreigners can currently freely trade only American depositary shares, which account for 3 percent of Gazprom stock and trade at a premium to local common shares.