Today the trade in shares of the largest Russian oil company NK “Rosneft” which made the initial public offering (IPO) of its securities in the stock market has started. During the first trading session at MICEX Stock Exchange participants has concluded 1500 transactions worth of 1350 million rubles (50 mln US dollars) at the weighted average price of 204.35 rubles (7.55 dollars).
In compliance with the Rules of MICEX Stock Exchange on Listing, Access to the Placement and Circulation of Securities, with effect from 19 July 2006, the trade in registered uncertified shares of common stock of the Open Joint Stock Company “Neftyanaya Kompania “Rosneft” has started with the parameters as follows:
Information on shares of common stock:- State registration number – 1-02-00122-? of 29 Sept. 2005;
- Par value – 0.01 ruble;
- Quantity of securities – 9,092,174,000 pieces;
- ISIN code – RU000A0J2Q06;
- Trade code – ROSN.
The standard lot of transactions in shares of common stock of OAO “NK Rosneft” is set in the amount of one (1) security.
As decided by the board of directors of MICEX Stock Exchange, shares of NK “Rosneft” (state registration number – 1-02-00122-A of 29 Sept. 2005, trade code - ROSN) are included into «B» quoted list of MICEX Stock Exchange. The above list is specifically intended for putting into the listing shares of the issuer who places securities for the first time by open subscription through the broker as well as those of the issuers who offer securities for pubic floatation for the first time through the exchange or by hiring the broker so as to settle transactions relating to such offering and aimed at the alienation of shares. The list applies in accordance with a new version of the Rules of MICEX Stock Exchange on Listing, Access to the Placement and Circulation of Securities with effect from 1 July of this year.
Settlements on shares of NK “Rosneft” are effected in National Depositary Center which, so as to make the depositary accounting for these shares, uses the National Depositary Center’s client account in the share register of NK “Rosneft” (the registrar is LLC “Reestr-RN") and the National Depositary Center’s custody account in the Depositary of the Savings Bank (Sberbank) of Russia. The clearing house of MICEX Stock Exchange effects cash settlements.
As is noted by the general director of MICEX Stock Exchange, the successful placement of shares of NK “Rosneft” and their commenced exchange trade will definitely make a positive impact on the whole stock market of Russia. It is critical that in the course of IPO new technologies were developed – the placement of shares among individuals through the banking retail sale network and their simultaneous placement in both domestic and foreign exchange markets. “Judging by the results of the placement, the market client base has been considerably extended in the aggregate: 115 thousand individuals who participated in this IPO plus institutional investors – this is the very base of the investors who can start trading in Rosneft shares in MICEX Stock Exchange. - he said – The number of investors, size of the company and large free float are good prerequisites for successful trades in Rosneft shares”.
