09.11.2007, 10:01
Gazprom Plans to Enter Shanghai Stock Exchange
OREANDA-NEWS. Gazprom is currently examining possible listing at Shanghai's stock exchange, reported Veles Capital with reference to a high-up Gazprom insider of Agency for Gas Information. The Russia's largest company had already announced its interest towards Asian trading grounds one year ago, though without telling where exactly its stocks could be listed. Listing at new exchanges means an expansion of investors' base and increase of liquidity. Aside from that, Gazprom positions itself as a global energy company, so introduction to Asian market will contribute to company's fame. For now, Gazprom's ADRs are traded over London, Berlin and Frankfurt exchanges. Veles Capital experts suggets that the said step would positively affect quotes of the gas monopolist and push its exchange value to fair levels at 14.27 USD, according to a share gained by Gazprom at given exchange.
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