World Bank looks into possibility of IPO for Naftogaz
2011-04-18 16:39:23
The World Bank studies possibility of selling stocks of NJSC Naftogaz of Ukraine at international exchanges (IPO), World Bank Country Director for Ukraine, Belarus and Moldova Martin Raiser told in an interview to Zerkalo Nedeli. Ukraine.
He said that presently they are attentively looking into the issue.
According to Raiser, the gas sector of Ukraine is very important business. On the other hand, it needs great investments in order to be able to realize its potential. Martin Raiser said that presently, the infrastructure is used in the company, which was constructed many years ago, and then for many years this sector was underinvested. In this context, the World Bank's position is the following: the bank wants to help Naftogaz of Ukraine to be investment-attentive company, which will enable it to attract the necessary funds for full realization of the economic potential.
The WB Country Director noted that the matter concerns standard commercial investments rather than investments of international financial organizations or investments that Naftogaz will be able to receive on the basis of some bilateral intergovernmental agreements.
As UKRINFORM reported, Head of NJSC Naftogaz of Ukraine Yevhen Bakulin in early March stated that the company can carry out IPO in 2012-2013.
On March 21, President Viktor Yanukovych said that he considers possible sale of the part of Naftogaz of Ukraine stocks at international exchanges for optimization of its work.
On April 1, Energy and Coal Industry Minister Yuriy Boiko informed that the Cabinet intends to sell up to 25% of Naftogaz stocks. According to him, the government counts to get USD 5-6 billion for minority shareholding, according to the most pessimistic forecasts.
NJSC Naftogaz of Ukraine is the largest state-run vertically-integrated oil and gas company of Ukraine, whose enterprises produce over 97% of gas and oil in the country.