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Gazprom Plans Singapore Share Listing for Round-the-Clock Trades - Bloomberg
OAO Gazprom, the natural-gas export monopoly, is in talks to list its shares with Singapore Exchange Ltd. (SGX), the Russian company’s spokesman said.
Gazprom is preparing documents for the listing, which may happen as early as July, Sergei Kupriyanovsaid by phone today. The company wants its depositary receipts to trade round the clock and aims to boost the liquidity of its stock with the listing, the Interfax news service reported today, citing a Gazprom executive it didn’t identify. As much as 7 percent of its shares will trade on the Asian bourse, Interfax said.
President Vladimir Putin is turning to Asia as the U.S. and European Union expand sanctions on officials and companies after Russia’s incursion in Ukraine. Gazprom is planning two non-deal roadshows in Asia in May and June and is preparing to sign a supply agreement with China when Putin visits next week.
Gazprom’s shares advanced 1.2 percent to 141.50 rubles by 6:25 p.m. in Moscow, with volumes about 80 percent of the three-month average. The London-traded stock rose 1.2 percent.
The possibility of a Hong Kong listing for OAO Lukoil, the nation’s second-biggest oil company, is increasing amid tensions with the U.S. and EU, Chief Executive Officer Vadim Alekperov said last month. Gazprom plans two non-deal roadshows in Asia in May and June, Kuprianov said last month.
Russia may conduct state asset sales on Asian markets, First Deputy Prime Minister Igor Shuvalov said April 8.
OAO Gazprom, the natural-gas export monopoly, is in talks to list its shares with Singapore Exchange Ltd. (SGX), the Russian company’s spokesman said.
Gazprom is preparing documents for the listing, which may happen as early as July, Sergei Kupriyanovsaid by phone today. The company wants its depositary receipts to trade round the clock and aims to boost the liquidity of its stock with the listing, the Interfax news service reported today, citing a Gazprom executive it didn’t identify. As much as 7 percent of its shares will trade on the Asian bourse, Interfax said.
President Vladimir Putin is turning to Asia as the U.S. and European Union expand sanctions on officials and companies after Russia’s incursion in Ukraine. Gazprom is planning two non-deal roadshows in Asia in May and June and is preparing to sign a supply agreement with China when Putin visits next week.
Gazprom’s shares advanced 1.2 percent to 141.50 rubles by 6:25 p.m. in Moscow, with volumes about 80 percent of the three-month average. The London-traded stock rose 1.2 percent.
The possibility of a Hong Kong listing for OAO Lukoil, the nation’s second-biggest oil company, is increasing amid tensions with the U.S. and EU, Chief Executive Officer Vadim Alekperov said last month. Gazprom plans two non-deal roadshows in Asia in May and June, Kuprianov said last month.
Russia may conduct state asset sales on Asian markets, First Deputy Prime Minister Igor Shuvalov said April 8.
