UAE company acquires 16.33% of RussNeft's ordinary shares, formerly part of Glencore stake

MOSCOW. April 23 (Interfax) - Dubai-registered OCN International DMCC acquired 16.33% of the voting shares in RussNeft on April 23, the oil company said.

The new shareholder in RussNeft's capital structure has acquired part of Glencore's former stake, a source familiar with the details of the deal told Interfax.

The charter capital of PJSC RussNeft amounts to 196.076 million rubles and consists of 392,152 shares, each with a nominal value of 50 kopecks, including 294,120 ordinary shares (75% of the charter capital) and 98,032 preferred shares (25% of the company's charter capital).

Thus, OCN International DMCC acquired 12.25% of RussNeft's charter capital.

RussNeft said in February that its subsidiary Belye Nochi LLC acquired 17% of the company's ordinary shares or 11.21% of charter capital in December 2024. The source said this was another part of the share package previously owned by Glencore.

The Moscow Exchange estimates the RussNeft free float at 28% of ordinary shares.