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ARMROSGAZPROM MAIN SHAREHOLDER UNAWARE OF THE COMPANY'S PLANS
Regnum, Russia
July 9 2007
ArmRosgazprom main shareholder, Gazprom, has no information about
plans of the Armenian-Russian company to issue additional bonds and
float them at foreign stock exchanges. As a REGNUM correspondent was
told at the Gazprom press office, the company's leadership has not
discussed the question of issuing bonds or reorganizing ArmRosgazprom.
Earlier, in an interview to Reuters, Armenian Central Bank Chair
Tigran Sargsyan announced that ArmRosgazprom intended to float its
shares at foreign stock exchanges. The IPO was planned to take place
in the end of this year or in the beginning of the next year. The
planned emission totaled $1bn.
ArmRosgazprom is a monopolist in supplying and distributing the
Russian gas in Armenia's domestic market. At the present time, its
capital totals about $400mn. Gazprom owns 57.59% of its shares,
Armenia's Energy Ministry has 34.7% and Itera 7.71%. By 2009,
Gazprom intends to increase its part up to 80%. The increase is to
be proceeded in accordance with an agreement of March 31, 2006, that
sets strategic principles of the cooperation in gas projects in the
Armenian territory. Gazprom plans to increase its part in ArmRosgazprom
at the account of buying its shares issued in an additional emission.
Regnum, Russia
July 9 2007
ArmRosgazprom main shareholder, Gazprom, has no information about
plans of the Armenian-Russian company to issue additional bonds and
float them at foreign stock exchanges. As a REGNUM correspondent was
told at the Gazprom press office, the company's leadership has not
discussed the question of issuing bonds or reorganizing ArmRosgazprom.
Earlier, in an interview to Reuters, Armenian Central Bank Chair
Tigran Sargsyan announced that ArmRosgazprom intended to float its
shares at foreign stock exchanges. The IPO was planned to take place
in the end of this year or in the beginning of the next year. The
planned emission totaled $1bn.
ArmRosgazprom is a monopolist in supplying and distributing the
Russian gas in Armenia's domestic market. At the present time, its
capital totals about $400mn. Gazprom owns 57.59% of its shares,
Armenia's Energy Ministry has 34.7% and Itera 7.71%. By 2009,
Gazprom intends to increase its part up to 80%. The increase is to
be proceeded in accordance with an agreement of March 31, 2006, that
sets strategic principles of the cooperation in gas projects in the
Armenian territory. Gazprom plans to increase its part in ArmRosgazprom
at the account of buying its shares issued in an additional emission.