Russneft prepares for IPO

摘要

Russian oil producer Russneft’s founder and leading shareholder, Mikhail Gutseriyev, plans an initial public offering (IPO) on the Moscow stock exchange in the fourth quarter. Gutseriyev hopes to sell 25-49pc of the company, depending on market demand. The Gutseriyev family holds a 54pc stake in Russneft, while Switzerland-based trading firm Glencore owns 46pc. Gutseriyev said last year that he planned to sell up to 25pc of Russneft after merging the company with his other Russian oil firm, Neftisa.