News

PJSC “RussNeft” performed IPO and placed 20% of ordinary shares on November 25, 2016 with 550 rub per share. The Company has raised 32.4 bn RUB. in the offering. The shares were sold to investors by the Cyprus based Belyrian Holdings Ltd. controlled by the family of Mikhail Gutseriev, the founder and the Chairman of the Board of Directors of the oil company. In course of IPO the company was valued at 161.8 bn RUB., and IPO results indicated a 1.5%.value growth.

Charity foundations Safmar and Sodeystviye implement a joint charitable program targeted at development of popular sports among the young people in Samara region.

During the IPO, shares of “RussNeft” will be available also for individuals. During the IPO, up to 20% of “RussNeft” ordinary shares would be offered to investors by Cyprus Belyrian Holdings Ltd. Through this company the Gutseriev family controls 67% of ordinary shares of the oil company and 75% of its overall share capital. The rest belongs to Glencore.

After IPO at MOEX PJSC “RussNeft” intends to purchase three oil assets in Orenburg region from its major shareholder Mikhail Gutseriev. The deal value is $270 MLN and it exceeds the funds available on PJSC “RussNeft” accounts fivefold.

Moscow. During IPO “RussNeft” is going to float 20% of its ordinary shares, which amounts to 15% of equity.