Rosneft faces problems attracting investors
10 Aug, 2006 04:01
Rosneft could struggle to attract investment from cash rich pension funds because the oil company has failed to obtain an A1 blue chip listing on Russia's RTS and MICEX exchanges.
To meet the listing requirements, shareholders aren’t allowed to own more than 75 percent of the company’s stock. Currently, the state owns in excess of 85 percent of Rosneft. However, it has no plans to sell a stake to a strategic investor and is looking at other ways of reducing the major share held by the state.