Both Russian and foreign institutional investors showed interest in Russian gas giant Gazprom's shares, while the company eventually sold the whole 2.93 percent stake to one investor, Deputy Chairman of Gazprom Management Committee Famil Sadygov said on Friday
MOSCOW (Pakistan Point News / Sputnik - 26th July, 2019) Both Russian and foreign institutional investors showed interest in Russian gas giant Gazprom's shares, while the company eventually sold the whole 2.93 percent stake to one investor, Deputy Chairman of Gazprom Management Committee Famil Sadygov said on Friday.
Two Gazprom's subsidiaries, registered in the Netherlands and in Cyprus, completed earlier in the day the sale of 2.93 percent of Gazprom's shares. The price was set at 200.5 rubles ($3.18) per share, with the total cost of the stake estimated at around 139 billion rubles. The free float will now raise to 46.02 percent.
"Both Russian and foreign institutional investors showed great interest in the allotment, which allowed us to sell the stake at an attractive price, with a 5.4 percent discount to the price registered when the trade session was closing a day before we announced the deal, and with a 8.4 percent discount to the closing price on the day when we collected applications," Sadygov told reporters, adding that the whole stake had been sold to one investor.
"Gazprom is satisfied with the results of the allotment. It has become the biggest allotment in the Russian market since 2012. The sale of 2.93 percent of shares has brought a significant income to the company and its shareholders," Sadygov noted.
