Gazprom's Armenian Unit Plans Ipo

[gamavor]

GAZPROM'S ARMENIAN UNIT PLANS IPO

 

The Moscow Times, Russia

july 10 2007

Bloomberg

 

Gazprom's Armenian unit, ArmRosGazprom, plans to issue shares on a

foreign exchange in an initial public offering as early as this year.

 

The company may sell $1 billion in shares, Shushan Sagaryan, a

spokeswoman for the firm, said by telephone Monday from Yerevan.

 

Haik Papian, CEO of Yerevan-based Cascade Investments, which is

advising ArmRosGazprom on the sale, said the final figure had not

been set and would probably be less.

 

"One billion dollars may be the long-term figure" for the total share

sale, Papian said. "At the beginning, I think we're talking about

something closer to $100 million."

 

ArmRosGazprom, Armenia's only gas distributor, buys fuel from Gazprom

at a price of $110 per 1,000 cubic meters. Gazprom charged its European

customers an average of $260.70 per 1,000 cubic meters in 2006.

 

 

http://groong.usc.edu/news/msg195667.html

 

 

PS: Cool, except that it doesn't say at which stock exchange they gonna make the IPO. Also, what is the current state of distribution of shares between the parties, what is the expect price per share, what type of shares are going to IPO, etc, etc....

 

 

[Mindtrap]

This is a good move for Armenian (although im sure they had little say in it). It will bring foreign attention to our nation and possible future investors. I have been in the US and some Euro markets when I was investing years back and one of the few stocks I would never consider was Gazprom. The reason being, there is too much information that is confidential and your honestly buying it on hope and hope alone.