27/07/2005 Novatek opens the London markets
Novatek opens the London markets
27 July 2005
Novatek is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the company is engaged in the exploration, production and processing of natural gas and liquid hydrocarbons. The company’s upstream activities are concentrated in the Yamal-Nenets Region, which is the world's largest natural gas producing area and accounts for over 90% of Russia's natural gas production and 20% of the world’s gas production.
Novatek is an open joint stock company established under the laws of the Russian Federation. The company’s shares have been listed on the Russian Trading System (RTS) since December 2004 under the ‘NVTK’ ticker symbol.
At US$ 966 million, the Offering represents the third largest on the London Stock Exchange this year and is the second largest ever by a Russian company. The Offering was placed with a broad selection of institutional investors in Europe, the UK and North America.
Mark Gyetvay, CFO of Novatek said: “We are delighted to be listed on the Main Market of the London Stock Exchange and were very pleased to receive such a positive reaction to our company from the international investment community. Our decision to join the growing number of leading Russian companies to be listed on the London Stock Exchange reflects our desire to attract a broad institutional investor base.”
The Joint Global Coordinators of the Offering were Morgan Stanley and UBS Investment Bank and the Joint Lead Managers and the Joint Bookrunners were Morgan Stanley, UBS Investment Bank and Credit Suisse First Boston. Troika Dialog was Co-Lead Manager and Alfa Capital Markets and Vnesheconombank Co-Managers of the Offering.