Naftogaz in talks with investment banks over possible IPO

Naftogaz in talks with investment banks over possible IPO
Ukraine’s national gas company Naftogaz has held talks with international investment banks and potential investors about an eventual IPO.
By Ben Aris in Berlin February 17, 2020

Ukraine’s national gas company Naftogaz has held talks with international investment banks and potential investors about the prospects for an IPO, Naftogaz CEO Andriy Kobolev said on February 17.

"The success of this process will depend on the ability to demonstrate customer focus. In particular, creating value for the end consumer through convenience (digitalisation) and managing consumption (energy efficiency)," Kobolev wrote on his Facebook page as cited by Interfax Ukraine.

"Of the pleasant things, the Naftogaz team is positively perceived by the market because we "keep our promises and adhere to the values declared". And such things are inspiring," he added.

The government of Ukrainian President Volodymyr Zelenskiy has said it wants to re-launch the failed privatisation programme, but many companies, including Naftogaz, require extensive reform before they can go to market.

Naftogaz unites the largest oil and gas producing enterprises of the country. The group is a monopolist in storing natural gas in underground storage facilities and transporting oil through pipelines throughout the country.

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