11:26 12.09.2017

Naftogaz development concept sent to govt includes potential IPO

The corporate development concept of national joint-stock company Naftogaz Ukrainy officially sent to the Cabinet of Ministers of Ukraine in June includes potential initial public offering (IPO) of the company, Naftogaz Head Andriy Kobolev has said.

"The strategy has the element of potential IPO of Naftogaz. Of course, the decision to enter the exchange could be made only by the Verkhovna Rada. Our goal is to prepare the company that the Verkhovna Rada has a motive to consider this decision. It will take three years of active work," he said in an interview with the Dzerkalo Tyzhnia.Ukraine (ZN.UA) publication.

Kobolev said that the development of the Ukrainian stock market without high quality assets, blue chips is impossible: the market would never develop if no funds are invested.

"One can build schemes, exchanges and create rules, but if there are no high quality companies, in which, for example, the Pension Fund can invest funds, the market would not exist," he said.

The placement of Naftogaz's shares on the exchange would allow providing for stability of supervision elements of corporate governance and transparent operations of the company, he said.

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