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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Greywolf who wrote (2590)	6/25/2001 8:58:55 PM
From: Tomas	Read Replies (2) \| Respond to of 2742

Better than expected: Lundin Oil's Khanty shares have a potential market value of US$32 Million. Besides, a loan note receivable from KMOC of US$1.3 Million (earning interest at 10% per annum) is repayable upon an initial public offering of KMOC's common stock. Crude oil firm Khanty says IPO may raise up to $117 mln WASHINGTON, June 25 (Reuters) - Khanty Mansiysk Oil Corp., the U.S.-based producer of crude oil from the Khanty Mansiysk region of Siberia in Russia, said on Monday its initial public offering may raise up to $117 million, more than previously expected. The New York City company said in an amended filing with the Securities and Exchange Commission that it plans to offer 7.3 million common shares for between $14 and $16 apiece. This was the first time the company had disclosed the terms since filing a preliminary prospectus with the SEC in mid-May. At that time, Khanty indicated it had hoped to raise as much as $100 million. Khanty would have a potential market value of up to $346 million based on 21.6 million shares outstanding. The company is selling 6.7 million shares, which would raise $93 million to $107 million based on the $14-$16 a share range. Assuming the midpoint price of $15, Khanty predicted it would make $91 million in net proceeds, which it plans to use to redeem outstanding notes as well as for general corporate purposes, including capital spending. Some of the company's shareholders are selling an additional 666,667 shares, but Khanty will not be getting any of that money, according to the SEC filing. UBS Warburg and J.P. Morgan, which are jointly managing the IPO, have an option to buy 1.1 million extra shares if the 7.3 million shares are all sold. Khanty has applied for a Nasdaq listing under the symbol ``KMOC'' (Nasdaq:KMOC - news). A debut date has not yet been set. The company holds production licenses to nine fields in the Khanty Mansiysk region, part of one of the largest hydrocarbon basins in the world, according to the filing. Of the nine fields, three are currently producing. The Khanty Mansiysk region covers about 1.3 million square miles east of the Ural Mountains in north central Russia, the company said. biz.yahoo.com