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Naftogaz of Ukraine hopes to raise $5-6bn in IPO

      RBC, 22.03.2011, Kiev 19:06:45.Ukrainian state-owned gas company Naftogaz of Ukraine expects to raise $5bn-6bn in an IPO, RBC Ukraine reported today citing the country's Energy and Coal Industry Minister Yury Boyko.

      "A decision in principle has been made to float a minority stake on stock exchanges. We are currently in the process of selecting a stock exchange with our consultants," he said. The IPO proceeds will be used to raise domestic gas production and upgrade the gas transport system.

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