The listing of LUKOIL's shares will carry with it higher regulatory disclosure standards and, by extension, higher international status. The listing will complement LUKOIL's existing depositary receipt programme in London, and its further issue of depositary receipts.
Welcoming LUKOIL, Ian Salter, Deputy Chairman at the London Stock Exchange, said: 'Russia is a priority market for the London Stock Exchange. We offer Russian companies the largest pool of international capital in the world, global visibility, a critical mass of investors and analysts that understand Russian companies and world-class standards of regulation. We are delighted that LUKOIL has recognised this today by announcing their first full international listing in London.'
The London Stock Exchange offers the natural gateway to European and international capital markets. Almost twice as much international trading takes place on its markets as on NYSE, Nasdaq, Euronext and Deutsche Borse combined. The listing of LUKOIL is expected to drive further liquidity in Russian stocks in London.
