MOSCOW, July 6 (RIA Novosti) - Rosneft said Thursday it had extended a deadline for Russian nationals to bid for its shares at its initial public offering by two days, until July 12.
The Russian state-run oil company plans to float up to 400 million of its common shares and GDRs in Russia and London.
It will be Russia's biggest IPO this year, which the company has said could bring in $8.5 billion and raise its capitalization to $60-80 billion.
The minimum bid to buy shares has been set at 15,000 rubles ($555). Rosneft earlier said the price could range from $5.85 to $7.85 per share. The company is expected to fix the price on July 14, when the books are closed.
Respected Russian business daily Kommersant reported Tuesday that Prime Minster Mikhail Fradkov had approved the issue of 14.27% of Rosneft's shares. After consolidating subsidiaries and paying off its treasury stock, Rosneft will be able to float about 12.7% of shares, the paper said.
The global coordinators and book-runners for the Rosneft IPO are ABN AMRO Rothschild, Dresdner Kleinwort Wasserstein, JPMorgan Securities Ltd., and Morgan Stanley & Co. International Limited.
