Moscow to float 4.5 % stake in LUKoil in late August

Jul 06, 2000 02:00 AM

The state will start floating 4.5% of LUKoil shares on Western markets in late August, Russian State Property Minister Farit Gazizullin announced. According to the minister, a fundamentally new instrument of privatisation will be used. The state will launch the share issue in the form of American Depository Receipts (ADRs) for subsequent distribution on Western markets.

Source: Kommersant via NewsBase
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