Up
Non-systematic Bashneft. What the future holds for the minority shareholders of the oil company
03.11.2014
Bashneft has lost over a half of its market value over the last three months. However, the experts are unanimous that the purchase of its shares is profitable as the operational and financial indicators are growing.
The market was positive towards the announced decision to practically de-privatize Beshneft. The bidding on Friday resulted in that the securities of the oil company were among the leaders, and their value skyrocketed 13,8%. The capitalization of the company reached 200 billion roubles.
To compare: prior to the IPO in London, which did not occur, the oil company claimed to be valued at 430 billion roubles. Therefore, the company has lost over a half of its market value over the last three months <...>
Dmitry Zhubrin, Associate of the Law Firm "YUST": “The decision of the Court of Arbitration will have little effect on the minority shareholders of Bashneft and on the legal status of the company as a whole. All resolutions of general shareholders’ meetings of Bashneft taken with the parficipation of Sistema JSFC remain in force. Ther State, having received the shares, may not demand reviews of the resolutions of general shareholders’ meetings of Bashneft and its Board, including the resolutions on the matter of payment of dividends to minority shareholders”.
Bashneft has lost over a half of its market value over the last three months. However, the experts are unanimous that the purchase of its shares is profitable as the operational and financial indicators are growing.
The market was positive towards the announced decision to practically de-privatize Beshneft. The bidding on Friday resulted in that the securities of the oil company were among the leaders, and their value skyrocketed 13,8%. The capitalization of the company reached 200 billion roubles.
To compare: prior to the IPO in London, which did not occur, the oil company claimed to be valued at 430 billion roubles. Therefore, the company has lost over a half of its market value over the last three months <...>
Dmitry Zhubrin, Associate of the Law Firm "YUST": “The decision of the Court of Arbitration will have little effect on the minority shareholders of Bashneft and on the legal status of the company as a whole. All resolutions of general shareholders’ meetings of Bashneft taken with the parficipation of Sistema JSFC remain in force. Ther State, having received the shares, may not demand reviews of the resolutions of general shareholders’ meetings of Bashneft and its Board, including the resolutions on the matter of payment of dividends to minority shareholders”.
Rankings and Partners
