Ukraine wants to raise $5-$10 billion from an initial public offering of the state-run natural gas exploration company, now a part of Ukraine's largest oil and gas firm Naftogaz, Prime Minister Mykola Azarov was quoted as saying on Thursday. "We have decided to restructure Naftogaz, to separate gas exploration company and to carry out IPO on an exchange," Interfax Ukraine quoted Azarov as saying.
Earlier this year, Ukraine energy minister Yuri Boiko said the former Soviet republic wanted to raise $5-$6 billion selling a minority stake in Naftogaz, adding the funds could be used "to develop the company, to increase gas production in our country and to upgrade our gas shipping system".
Naftogaz chief executive Yevhen Bakulin said earlier this year the company planned an IPO around 2013.