February 6, 2020 / 6:15 PM / 13 days ago

Moscow Exchange revises free float factor of Gazprom shares to 50%

FILE PHOTO - A branded helmet is pictured at the construction site of Amur gas processing plant, part of Gazprom's Power Of Siberia project outside the far eastern town of Svobodny, in Amur region, Russia November 29, 2019. Picture taken November 29, 2019. REUTERS/Maxim Shemetov.

MOSCOW (Reuters) - The Moscow Exchange has revised the free float factor of Gazprom ordinary shares to 50%, the bourse said on Thursday.

“The updated free float factor will apply in index calculation from 20 March, 2020, the date of the regular index constituents rebalance,” the Moscow Exchange said.

The move comes after the world’s largest conventional gas producer Gazprom sold a 3.6% stake in November and a 2.9% stake in July on the market. Gazprom said in November its free float had risen to 49.61%.

Reporting by Andrey Ostroukh; editing by David Evans

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