▲ Up
 
19:56 26-09-2016
MAIN АКИpress CA-News
About us On-line subscription
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Max Petroleum sells 51% stake to Assaubayev family

Bishkek (AKIpress) - Max Petroleum Oil and gas company Max Petroleum Plc, which started a strategic review of its operations last week, said it had sold a 51 percent stake in the company and raised 37.1 million pounds ($62.4 million), reports Reuters.

Shares in the Kazakhstan-focused company rose as much as 32 percent in trade and were the top percentage gainers on the London Stock Exchange on Monday morning.

The strategic review will remain ongoing and Max is still open to a sale of the company, it said in a statement.

Max Petroleum said AGR Energy, an investment vehicle of the Assaubayev family, had acquired 2.26 billion new shares in the company at 1.64 pence per share, a 33.9 percent premium to the stock's Friday close.

The strategic review followed a tumultuous few months when Max slashed its full-year production target, implemented cost cuts and saw large shareholders, UBS Investment Bank and Henderson Global Investors, drastically reducing their stake in the company.

The London-listed company said it would appoint two nominees of AGR Energy, Aidar Assaubayev and Kanat Assaubayev, to its board by the end of this year.

Shares in Max Petroleum were trading up 20.8 percent at 1.49 pence at 0856 GMT.


Twitterfacebookprint
09:21 06.08.2014
LATEST NEWS
18:01 Tajik athlete wins bronze at Asian Beach Games17:36 Business forum in Batken to bring together apricot farmers and international buyers17:33 Uzbekistan, Kuwait review bilateral ties in New York17:32 Indian Finance Minister inaugurates Incredible India Tourism Investors Summit-201617:23 Parliamentary committee approves protocol on return of minors from CIS states to homeland17:10 Social project on support of children and families launched on basis of biggest family in Kyrgyzstan17:08 MP proposes to introduce beans and fish into schoolchildren's diet17:07 After 25 years, Kyrgyzstan finally achieved energy independence: MP16:54 Education sector reportedly receives 5.1 bln som more this year16:39 TB incidence decreases from 101.1 to 98.2 per 100 thousand persons over 3 years16:33 Government transfers 0.72 hectares of agricultural land in Batken region for construction of border checkpoints16:29 Kyrgyz film Lamp receives diploma at Russian documentary film festival16:24 Government increasing pensions since October16:12 Kyrgyzstan observes reduction in material mortality, Health Ministry says16:11 Draft amendments to Constitution propose canceling statute of limitations on crimes related to Kumtor agreements16:07 Uzbekistan, Poland set visa-free regime for diplomats15:56 Health Ministry plans to extend National Healthcare Reform Program until 201915:44 Assay Chamber of Russia does not recognize Kyrgyzstan's branding of jewelry, making it hard to export: Jewellers Union15:34 Flag of Kyrgyzstan crosses Andes and lands in Chile15:15 Dance group Adem and Atai Omurzakov move to next stage at Italian Tù Sì Que Vales talent show
Astana
+16° C
Ashgabat
+27° C
Bishkek
+24° C
Dushanbe
+28° C
Tashkent
+31° C
Ulaanbaatar
+4° C
exchange rates
 
76.77
68.53
10.27
1.07
378.29
337.37
50.58
5.30
6.85
6.26
1.01
0.12
3286.53
2888.39
446.81
42.81
3.93
3.50
0.52
0.05

© AKIpress News Agency - 2001-2016. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)90-07-75