Moscow. December 17. The government may decide on the privatization of parts of state-owned Rosneft to replenish the revenue side of the budget, said President Vladimir Putin during a press conference in Moscow.
It is about 19.5% of Rosneft shares. Earlier, Finance Minister Anton Siluanov said that the proceeds from the sale of this package are planned in the amount of not less than 500 billion roubles.
Online press conference Putin
With regard to (privatization) of Rosneft, Aeroflot, I’m still in my articles 2012 wrote, then it probably is. And, in principle, we will continue this work. Of course, the question always arises, is now the market conditions to sell these securities, generating results for the economy share of the property, for example, in “Rosneft”. Never to guess the situation, or not the same”, he said.
“I do not exclude that in order not to scorch the reserve, and to ensure incomes and change the structure (ownership) of these large companies and the government will go for these solutions. I try in these decisions not to intervene. Moreover, the controlling stake in these companies, the state does not lose”, – said Putin.
Prime Minister Dmitry Medvedev in November of last year signed the order required for the privatization of 19.5% of Rosneft shares belonging to the state holding Rosneftegaz. The order authorizes the disposal of up to 2 billion 66 million 727 thousand shares 473.
The reduction in the share of Rosneftegaz in the equity of Rosneft from 69.5% to 50% + 1 share provided for in the approved 2013 program of privatization. This Directive allows you to make a sale, but its timing does not fix.
By order of the government, the shares must not be sold below the price of the initial public offering in 2006. Then one share and the receipt cost $7,55. The President of “Rosneft” Igor Sechin said recently that the price for the privatization should be not less than $8,12 – so much for a “paid in reference transactions by other shareholders.”
The market price is now below this level more than doubled, however, the Minister of economic development Alexei Ulyukayev believes it is right to focus on ruble quotes. “Now the ruble share price “Rosneft” higher than it was in 2006. For dollars the shares are not sold, dollars sold ADR, now they really are cheaper. We are located in the Russian jurisdiction and are talking about the ruble price of Rosneft shares. So, from my point of view, this condition (not below the offering price in 2006) is performed”, – said the Minister last week.
The privatization organization is mandated to “Rosneftegaz”, the Board of Directors which is headed by the CEO of Rosneft.