Naftogaz plans to go for IPO

CEO of National Joint-Stock Company Naftogaz of Ukraine Andriy Kobolyev says the company has plans for an initial public offering (IPO) on a major international stock exchange in 2025.

He made the comment while presenting the company's business strategy on February 18.

"In 2025, we plan to publicly place our shares and complete the IPO procedure," he said.

Kobolyev added that by that time Naftogaz will have become a company engaged in supplies of not only natural gas, but also electricity, heat, and energy efficiency services. In addition, the company intends to focus on renewables.

Background

In July 2020, Kobolyev said bringing Naftogaz to IPO is the company's major ambition.

Read alsoIt's happening: Ukraine is attracting European neighbors to developing a gas-bearing shelf in the Black SeaKobolyev said in 2017 the sale of the company's minority stake (15%), which could take place in 2020, would allow the state to receive US$10 billion in revenue, as well as reform the company.

Memo

NJSC Naftogaz of Ukraine is the country's largest state-run vertically integrated oil and gas holding whose subsidiaries account for about 80% of oil and gas production in Ukraine.

Naftogaz develops oil and gas fields, and produces crude oil and natural gas.

Its core business is also transportation and trade in fuel through its own network of filling stations.