Ulyukayev confirms the need for stake sale to Rosneft

Ulyukayev confirms the need for stake sale to Rosneft


Today, the price of state-owned Rosneft 19.5% in rubles higher than at the time of the IPO and amounts to 580 billion rubles, said the head of Ministry of economic development Alexei Ulyukayev.

NAIROBI, 16 Dec. The head of the Ministry of economic development Alexei Ulyukayev confirms the need for the sale of state-owned Rosneft to 19.5% in 2016, but an agreed solution in the government on this issue.

“I believe that the privatization plan must be executed. Rosneft and Sovkomflot are in the current privatization plan, nobody from there does not exclude, then, (sell back) should be organized”, — said the speaker reporters.

According to the speaker, “today, the price of state-owned Rosneft 19.5% in rubles higher than at the time of the IPO and amounts to 580 billion rubles.”

“I think so, the restriction that we have introduced for yourself (accommodation is not below the IPO price — ed.), thus, executed”, — said Ulyukayev.

“Within the government it is not agreed,” he added, answering the question of whether there is a final decision of the Cabinet regarding the privatization. On the London stock exchange the price of the GDR of Rosneft (equal to one share) at the close of trading Tuesday was $ 3.51 dollar on the Moscow stock exchange ruble 249,7. Proceeding from rouble quotations the package cost can be estimated at 517 billion rubles.

Privatization of 19.5% of “Rosneft” in the state plan for the period up to 2016. According to the signed in November last year, the resolution of the Prime Minister of the Russian Federation 19.5% stake in oil company owned by the state “Rosneftegaz” should not be sold cheaper prices public offering in 2006. Then a paper “Rosneft” were placed at 203 ruble per share on the Moscow exchange and to 7.55 dollars per Depositary receipt (equal one share) on London.