By Ivan Anderzhanov in Moscow
Renaissance Capital has acted as joint bookrunner for the placement of $27.5m in shares by Ireland-based oil company PetroNeft Resources from international institutional investors.
The company, which focues its activities on Siberia, will use the net proceeds of the placing to finance construction of a 70 km pipeline and related infrastructural expenditure, field facilities, drilling of production wells and general corporate overhead. Irish broker Davy and Canada’s Canaccord Adams were the other bookrunners on the deal.
Ruben Aganbegyan, president of Renaissance Capital, said in a statement: “We are especially happy that we have successfully placed the equity of a young oil company before it has commenced a year-round production. This is a clear signal of investors’ growing interest towards the Russian oil industry”.
