Lukoil mulls Treasury shares sale option
Russia's largest privately-owned oil producer hopes its new long-term strategy will help maintain its status as a market favourite
Lukoil remains a sweetheart among investors, due to its western-style management and its progressive dividend policy—it is regarded as the "consensus-long" bet amongst Russian stocks. But investors are keen to see fresh drivers for the company's growth and believe disposal of its treasury shares could be one promising avenue. The Treasury shares—issued ones that the firm holds itself—represent around 16% of the company's total equity and currently reside offshore in Cyprus. One option is to sell them on the stock market and raise funds for the implementation of large-scale projects, while a second option would be to distribute them among shareholders. "Despite positive governance changes at
Also in this section
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them