Gazprom Message Board - Msg: 22073216

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Gold/Mining/Energy : Gazprom

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From: Copperfield	1/18/2006 12:06:52 PM
	of 45

Gazprom share trading soars after liberalization - MICEX head 19:45 \| 18/ 01/ 2006 MOSCOW, January 18 (RIA Novosti) - The head of the Moscow Interbank Currency Exchange (MICEX) said Wednesday that total trade in Russian energy giant Gazprom's stock on all bourses had increased substantially after the company liberalized its share market. Alexander Potyomkin told a seminar dedicated to the launch of Gazprom share trading on MICEX, scheduled for January 23, that trading in the company's stock on other floors totaled $1-2 billion per month in early 2005. However, after Gazprom removed the ring-fence from around its shares in December, the figure climbed to $6-7 billion. "This is not the limit," Potyomkin said. "I think we can expect Gazprom shares to reach the level of [Russia's electricity giant] Unified Energy System (UES) in terms of liquidity." Trading in Gazprom stock on MICEX "will not merely be trading in shares of a major company, but will be a turning point in the history of Russia's stock market," Potyomkin said. He said the starting price for the shares could be 210-220 rubles ($7.4-7.7) per share, and added that Gazprom's market capitalization and leading position had to be maintained.

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