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. Last Updated: 07/27/2016

Novatek Reveals Owners

Gas producer Novatek said that its chairman, Leonid Mikhelson, controlled the firm through a 35.5 percent stake worth some $1.7 billion, Vedomosti reported on Wednesday.

Vedomosti cited Novatek's initial public offering prospectus as saying that 13 other managers of Russia's top independent gas company controlled 24.5 percent of the firm, while State Duma Deputy Leonid Simanovsky controls more than 6 percent.

Novatek is planning a roadshow this month for an IPO in London to place up to 30 percent of the firm.

The firm has a small number of shares listed in Moscow, and its market capitalization is around $4.9 billion, which puts Mikhelson's wealth at more than $1.7 billion. Forbes magazine previously rated Mikhelson as Russia's 33rd-richest man, with a fortune of $900 million.

Vedomosti said the prospectus did not disclose who controlled the remaining Novatek shares.