LUKoil Dutch Unit Buys Entire New Share Issue

Largest Russian oil firm LUKoil said on Wednesday its Dutch finance arm had bought up an issue of shares which will serve as collateral when the company places $300-400 million of convertible bonds this year. The issue consists of 16.6 million LUKoil ordinary shares. "LUKInter Finance BV was the only bidder for these shares and it won the tender," a spokesman for LUKoil said. The Federal Securities Commission, Russia's main market watchdog, said in a statement it had registered the results of the placement on Tuesday, the Russia Journal wrote.

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