Bashneft’s Board of Directors postponed SPO in London due to unfavourable market conditions

Elvira Latypova

The Bashneft’s Board of Directors heard the management report on the status of preparations of JSOC Bashneft for a potential secondary public offering (SPO) of its securities planned for autumn this year and recommended postponing implementation of the project due to unfavourable market conditions, the company reports.

The director of oil and gas consultancy RPI Vladimir Bobylev considers that rescheduling of SPO is a logical step in a situation of uncertainty which Bashneft faces in connection with the recent events.

Recall that 71.8 percent of Bashneft’s shares belonging to Sistema were arrested at the request of the Investigative Committee. Later arrest was imposed on another 12.57 percent of Bashneft’s shares owned by its subsidiary "Sistema Invest". The securities were arrested in connection with the case of a businessman Levon Hayrapetyan, who could be engaged in selling Bashkir oil company to Sistema in 2008. Hayrapetyan was charged under articles of the Criminal Code 160 (misuse of assets) and 174 (money laundering).

The licence renewal for Trebs and Titov fields to "Bashneft-Polus" - a joint venture of Bashneft and Lukoil challenged by minorities also does not contribute to stability, Vladimir Bobylev thinks.

Bashneft SPO was scheduled for September this year. In early July, Bashneft requested at the Bank of Russia a permission to place its shares at the London Stock Exchange. The expert believes that in the current situation the secondary offering is in jeopardy.

#bashneft #spo #london

Join us for more and faster updates on our social media.:

Rubrics

Телефон

Office: +7(347) 250-05-07 Advertising office: +7(347) 250-11-11 Editors office: +7(347) 250-07-28 Cooperation: +7(347) 250-06-14

Эл. почта

inf@bashinform.ru

Адрес

450077, Ufa, Kirov street, 45

© 1992-2026 Bashinform News Agency JSC. Mass Media Registration Certificate No. TU 02-01609 dated September 25, 2017, issued by the Office of the Federal Service for Supervision of Communications, Information Technology and Mass Media for the Republic of Bashkortostan.

All information and content posted on the website www.bashinform.ru are protected by international and Russian copyright and related rights legislation. All reports by the Bashinform News Agency are intended for users over 18 years of age.

When reprinting or quoting, a reference to Bashinform News Agency is mandatory. For online publications and social media, a direct active hyperlink is required. Using the Bashinform News Agency logo for purposes not related to the agency when reprinting or quoting is permitted only with the written permission of JSC Bashinform News Agency.