13 October 2003 21:35
Rusia Petroleum starts to place ninth-issue shares
MOSCOW. Oct 13 (Interfax) - RUSIA Petroleum, the company that holds the license to the big Kovykta gas condensate
field, starts to place a ninth share issue to raise something like $20 million in project finance on October 13.
Earlier, RUSIA petroleum said efforts to put the field, which is in the irkutsk region and which contains proven
C1+C2 reserves of 2 trillion cu m of gas, would cost about $30 million next year.
The company's shareholders BP (33.39%), Russia's TNK (20.03%), Interros (25.82%) and the Irkutsk region
(11.24%) voted in favor of the issue at their June 27 AGM.
RUSIA Petroleum plans to issue 2,962,963 common shares, par value 10 rubles each, in a private subscription from
October 13. Deloitte & Touche has decided on a placement price of $6.75 a share. The issue will increase RUSIA
Petroleum's share capital - currently 696.989 million rubles, consisting of 10-ruble shares - by 29.6 million
rubles.
Shares will be offered over an initial 48-day period to those shareholders who did not vote at the AGM or who voted
against the issue. The new shares will be offered to other shareholders over a subsequent 23-day period. Any unsold
shares will be offered over a period of nine days thereafter. [RU ASIA EUROPE EEU EMRG ENR NGS STX ISU CORA GB pr
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