Russian state-controlled oil firm Rosneft may put shares back on the market to increase its free float if it wins an auction for a block of its equity next week, a company official said.

The 9.44 percent stake in Rosneft is held by bankrupt oil firm YUKOS and is going under the hammer to pay off its debts.

The official said Rosneft could swap the shares for assets in Russia or abroad, or sell them back to investors to increase the firm’s free float. But he said the fair value was much higher than the current market price, so it was unlikely they would be floated again soon.

Share This Article by Email or Social Web

Related Articles

Rosneft outbids TNK-BP in YUKOS carve-up auction

Rosneft will participate in auction for Yukos transport assets

Eni Wins Yukos Auction for Stake in Gazprom Oil Unit

Rosneft subsidiary wins 5th auction for bankrupt Yukos assets

Yukos Headquarters To Be Sold At Auction

Posted: 03|23|07 at 3:22 pm. Filed under: News.