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Bashneft shares plunge amid reports on privatization rescheduling

August 17, 10:11 UTC+3
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MOSCOW, August 17. /TASS/. Bashneft ordinary shares plunged 15.3% to 2,654 rubles per share while its preferred shares dropped 6.8% to 1,832.5 rubles per share at the opening of trade on Wednesday amid reports on the company’s privatization rescheduling. As TASS reported earlier Prime Minister Dmitry Medvedev postponed privatization of the state-owned oil producer.

Bashneft operates in more than 20 regions of Russia and abroad. The Federal Property Management Agency owns 50 plus 1 share in the company’s share capital; the Republic of Bashkortostan holds 25% plus one share. Bashneft’s shares are traded on the Moscow Exchange.

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