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Oil company Rosneft's capitalization up $12 bln after IPO -- Putin

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Capitalization of state-controlled oil company Rosneft [RTS, LSE: ROSN] increased by $12 billion, to $92 billion, following an initial public offering (IPO) in Moscow and London, Russia's president said Friday.
NOVO-OGARYOVO, October 27 (RIA Novosti) - Capitalization of state-controlled oil company Rosneft [RTS, LSE: ROSN] increased by $12 billion, to $92 billion, following an initial public offering (IPO) in Moscow and London, Russia's president said Friday.

Rosneft held an initial public offering this summer in Moscow and London, the biggest in Russia's corporate history and the world's fifth largest and biggest in the sector.

Vladimir Putin told a meeting with Rosneft IPO underwriters that a total of 115,000 individuals bought the shares, underscoring the company's high profile.

"We proceed from the premise that the company's work should be based on market principles," he said.

Rosneft stock is now traded on the London Stock Exchange, the Russian Trading System (RTS) stock exchange and the MICEX stock exchange.

Prior to the IPO, Rosneft signed an underwriter agreement with ABN Amro Bank N.V. and NM Rothschild and Sons Limited (jointly operating under the brand of ABN Amro Rothschild), the London branch of Dresdner Bank AG, JP Morgan Securities Ltd., Morgan Stanley & Co. International Limited, Russia's state-run retail saving bank Sberbank and other financial institutions.

The company said in mid-September it has no plans to float any additional shares.

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