The shares of “Bashneft” jumped more than 4% on news of privatization

Ordinary shares of the oil company “Bashneft” has jumped to the level of 4.23% – to 3 thousand RUB. 56 (as of 14:00 MSK), according to data from the Moscow exchange.

In early trading of paper was worth 2 thousand 962 rubles. To 10:40 GMT they broke the mark of 3 thousand. RUB.

The company’s shares are rising in anticipation of privatization. “It is difficult to allocate a specific driver to: only information about the possible premium to market when selling the package pushes the quote or the topic of privatization generally attracts people. Obviously, if there is a sale to a strategic investor, the premium needs to be, and the market is currently pricing a potential offer to the minorities,” Reuters quotes a trader VTB Capital Alexei Blue.

On the eve of President of Russia Vladimir Putin by his decree excluded “Bashneft” from the list of strategic enterprises and strategic joint-stock companies, making possible the privatization of the state-owned controlling stake in the company.

The Russian Federation represented by Rosimushchestvo belongs of 50.08% of the shares in the oil company, another 25% of the shares owned by Bashkortostan in the face of the Republican Ministry of land and property relations. Earlier it was reported that there are three options for privatization of “Bashneft” — package sale of 25% shares package of 50% of shares and together with shares of Bashkiria — 75% of the shares.