OJSC TNK-BP Holding announced today that it has received approval from MICEX and RTS for its shares to be admitted to trading at these Russia’s main stock exchanges. Trading of both TNK-BP Holding ordinary and preferred shares will commence on 6 December 2010.
Admission to trading enables the Company ordinary and preferred shares to be traded on the regulated market. The shares previously have been traded at RTS Board only (over-the-counter market). TNK-BP Holding has a free float of approximately 5.3%.
The Company shares have been admitted to the section “Unlisted shares admitted to trading” at RTS and MICEX and will trade under the tickers TNBP for ordinary shares (state registration number
Jonathan Muir, Chief Financial Officer of TNK-BP, said: “We are delighted that the shares of our main operating subsidiary, TNK-BP Holding, will be traded at both of Russia’s leading stock exchanges. This move will improve liquidity of TNK-BP Holding existing shares and act to the benefit of our minority shareholders.”
Roman Goryunov, CEO at RTS Stock Exchange commented: “The move of OJSC TNK-BP Holding securities from the OTC market onto the regulated on-exchange market is clearly a positive sign for the market: another major Russian issuer is becoming public and transparent, and a new promising product on offer will become an additional investment vehicle for market participants. We hope in the foreseeable future TNK-BP Holding stocks will join the list of the Russian blue chips.”
Marinа Medvedeva, General Director of MICEX Stock Exchange, added: “TNK-BP Holding shares will expand the Russian blue chip stocks universe. It is our hope that admitting TNK-BP Holding shares to trading at MICEX will raise their liquidity and increase trading volumes at the exchange.”
Notes for editors:
OJSC TNK-BP Holding is an open joint-stock company established in November 2004, registered and operating in Russia. TNK-BP Holding owns the majority of Russian assets of TNK-BP.
TNK-BP is Russia’s third largest oil company, 50% held by BP and 50% held by the AAR Consortium (Alfa Group, Access Industries, and Renova). TNK-BP also owns close to 50% of another Russian oil and gas company, Slavneft. TNK-BP accounts for approximately 16% of Russia’s production (including its share of Slavneft). SEC proved reserves (life of field basis) were 8.586 billion boe as of December 31, 2009.
References to “TNK-BP” or “the Group” mean “TNK-BP International and the company’s consolidated subsidiaries” unless the context requires otherwise.
For further information please contact:
Public Affairs Division: Tel. (495)
IR Department: Tel. (495)