Bashneft Readies $1 Billion Share Sale in Moscow or London - Bloomberg:
"OAO Bashneft, the oil producer controlled by Russian billionaire Vladimir Evtushenkov, is preparing to raise at least $1 billion in a share sale in London or Moscow later this year.
While no decision has been taken on whether or where the sale will go ahead, the company will be ready should market conditions allow, Chief Executive Officer Alexander Korsik said in an interview yesterday. The sale, designed to increase the stock’s liquidity, may comprise shares held by Evtushenkov’s Sistema group or new shares, he said.
The choice between London or Moscow will be guided by financial considerations and not politics, Korsik said. The Russian government is encouraging businesses to raise money in home markets after President Vladimir Putin’s decision to annex Crimea prompted the imposition of U.S. and European Union sanctions on some Russian businesses and individuals."
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