Lukoil lines up HK listing

MOSCOW, RUSSIA - JUNE 28: LUKOIL Deputy Chief Executive Leonid Fedun speaks at a press conference on June 28, 2007 in Moscow, Russia. Russia's No. 2 oil producer OAO Lukoil announced today that its net profits in the first three months of the year fell 23 percent due to a dip in global oil prices and higher taxes. (Photo by Dima Korotayev/Epsilon/Getty Images) *** Local Caption *** Leonid Fedun

Hong Kong in sight: Leonid Fedun reveals Lukoil's Asian bourse plans

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By Eoin O'Cinneide & news reports

 29 May 2012 08:29 GMT

Lukoil looks set to beat a path to a Far Eastern bourse as the Russian oil major reportedly lines up a listing in Hong Kong next year.

Shanghai may also appear on the oil producer’s radar although it is not planning on issuing any new shares, according to media reports.

“We want to access a new class of investors,” the Financial Times quoted vice president Leonid Fedun as saying.

“The world is changing. Asia is playing a greater role in politics and economy.”

The newspaper cited Fedun as saying no new shares would be issued in a planned secondary listing in Hong Kong in mid 2013. Instead the company would shift existing stock over to the Asian bourse which would be accessible through buybacks.

Reuters cited Fedun as saying…

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