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Gasprom will abrogate stocks quota system for non-residents
15.09.2004 00:00

Quota system for holding of Gasprom shares will be annulled. This has been declared today by the head of gas holding Alexey Miller upon meeting with President Putin and Prime Minister Fradkov in the Kremlin, Russia TV channel reports.
       We will have a single market, - stressed the head of the company. The decision to liberalize the Gasprom stock market is aimed at eventual single stock market and fundamental stock value as a result, - said Mr. Miller. Let us recall that at present not more than 20 per cent of Gasprom stocks can be owned by foreigners.
       The decision to annul quota system for shareholding by foreigners is another step on the way to liberalization which is to result in merging of internal and external markets. Before this decision the stocks of the company were more expensive for non-residents than for residents. The first step to merger of the markets is the states acquisition of Gasprom control stake.


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