LUKoil plans to start placement of its GDR totaling 5.9 percent of the company's shares at the London Exchange on July 31, Vagit Alekpyorov, president of LUKoil, declared at a press conference in Volgograd.
A road show is expected to take place in London, New York and Boston on July 26-27, 2002.
As it was earlier reported, the placement of a 6 percent block of shares out of a 13 percent stake that belongs to the state was scheduled to 2001.However due to an unfavorable situation it was postponed.
LUKoil's consolidated profits were $2.11bn in 2001, according to GAAP. Sales proceeds amounted to $13.56bn. The oil production growth in 2001 was 0.8 percent.