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. Last Updated: 07/27/2016

Sidanko Seeks Funds

MOSCOW () -- Russia's Sidanko oil group seeks to attract $3 billion in investment over the next few years, including from $500,000 to $700,000 this year, Sidanko Vice President Ziya Bazhayev said Thursday.

Igor Antonov, deputy chairman of the board of Uneximbank, which holds a controlling stake of Sidanko, said the company could issue stock on international markets or sell oil to raise funds.

Sidanko shareholders decided at a December emergency meeting to raise charter capital from 9.3 billion rubles ($1.6 million) to 26.17 billion rubles.