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. Last Updated: 07/27/2016

LUKoil to List in N.Y.

MOSCOW -- Russia plans to sell 9 percent of its biggest oil producer LUKoil in the form of American Depositary Receipts in 2000, Prime-Tass quoted a government official as saying Tuesday.

Federal Property Fund chairman Igor Shuvalov was quoted as saying the project was almost ready, but the company did not have accounts prepared to international standards for the last five years.

But he said LUKoil would be ready for a New York Stock Exchange listing by mid-2000.

Shuvalov also said the government planned to sell stakes in privatized companies mainly through New York and London exchanges soon.