RF Government to flog 20% shares of OJSC Sovcomflot late 2010 – early 2011
RF Government is planning to flog 20% shares of the largest shipping company Sovcomflot late 2010 – early 2011. Elvira Nabiullina, Head of the Ministry of Economic Development and Trade of the RF, informed on the matter after a meeting devoted to 2010 privatization schedule held with Vladimir Putin, the RF Prime-Minister, in charge.
As per Nabiullina, the sate stock of shares is being prepared for sale but the procedure of it remains unclear. We will consider various options, highlighted the Minister.
She also informed, RF Government anticipates RUR 70 billion involvement into the budget thanks to privatization in 2010. At the same time it was pointed out, the estimation is a preliminary one. It needs to be detailed as market conditions will change, to a better state we hope, informed the Minister.