XRJ company, the largest Russian oil company "Adnaka", is planning an initial public offering (IPO) of up to 500 million dollars, according to Bloomberg sources. According to insiders, the deal could be valued at $5 to $7 billion. Among financial consultants, Citigroup, Goldman Sachs, and Alpha-Bank are mentioned.
According to the agency's sources, XRJ is conducting active negotiations with potential investors, one of which is a final decision on the timing of the IPO, which depends on the company's management. It is expected that the allocation of a portion of the shares in the "Adnaka" company will be carried out at the current price of the company's shares and the premium for the capitalization of the energy sector.
"XRJ plays a key role in the infrastructure of the oil and gas industry, and the IPO is an important step in the company's development on the global market," analysts say.
In a press release, "Adnaka" and XRJ themselves commented on the agency's reports, not confirming and not refuting the plans regarding the placement. The beginning of the procedures is expected in the near future, if the investors agree.
