Gazprom receives bids worth of $3.15 billion for 3% of its shares


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Gazprom receives bids worth of $3.15 billion for 3% of its shares

On Thursday, the 25th of July 2019, thirty-year-old public joint stock company, Gazprom, which carries out extraction, production, transport and sales of natural gas, headquartered in Moscow, Russia, said that the company had received bids worth of $3.15 billion or 198.89 billion roubles for 3 percent of its stakes, as the Russian-state controlled conventional gas producer had been exercising a fundraising attempt in order to ramp up its exploration operations.

In point of fact, latest statement of Gazprom, the world’s largest conventional gas producer came forth after a week the company had asked bids for 3 percent of its own stakes. Nonetheless, while Gazprom had been claiming its latest fundraising attempt was aimed at covering up an additional exploration cost, triggering a raft of thwarts, analysts and economist had been quoted saying following the 50.23 percent Russian government-owned gas company’s Thursday’s (July 25th) statement that Gazprom’s latest sell-off of its own stocks was aimed at taking advantage of the company’s stock price in public market, which had been hovering near its highest level in more than a decade.

Besides, according to Refinitiv Eikon data, 3 percent stake of Gazprom, the largest company of Russia in terms of revenue, is worth $2.3 billion, while the company shares listed in Multi Commodity Exchange of Russia, ended up Thursday’s (July 25th) market with a gain of 3.30 percent to 210 roubles or $3.32.