Sistema Eyes Bashneft IPO

摘要

Russian telecommunications giant AFK Sistema has outlined ambitious plans to develop the Bashkir Oil assets it bought earlier this year, buoyed by the healthier financial and operating outlook for its energy business. Sistema boss Leonid Melamed is mulling an initial public offering (IPO) for the six Bashkir companies - the Ufaneftekhim, Novoil and Ufa refiners, the Ufaorgsintez petrochemicals plant, retailer Bashkirnefteproduct and electricity business Bashkirenergo - once they have been united under oil producer Bashneft (IOD Dec.10,p2).