|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||8.25 - 8.25|
|52 Week Range||5.18 - 8.25|
|Beta (5Y Monthly)||1.48|
|PE Ratio (TTM)||41.25|
|Forward Dividend & Yield||0.09 (1.11%)|
|Ex-Dividend Date||Jun 14, 2021|
|1y Target Est||N/A|
(Bloomberg) -- Vladimir Putin’s multi-year push to reduce Russia’s exposure to the dollar hit a major milestone as the share of exports sold in the U.S. currency fell below 50% for the first time.Most of the slump in dollar use came from Russia’s trade with China, more than three-quarters of which is now conducted in euros, according to central bank data published late Monday. The common currency’s share in total exports jumped more than 10 percentage points to 36%, the data for the fourth quarter show.Multiple rounds of sanctions and the constant threat of more to come have pushed Russia to find ways to isolate its economy from U.S. interference. The central bank has also stripped back its holdings of Treasuries in its international reserves, loading up on gold and euros instead.How Virus-Panicked Markets Showed Dollar’s Still King: QuickTakeThe shift away from dollar trade with China accelerated in 2019 when oil major Rosneft PJSC switched export contracts for crude shipments to euros. Lots of mid-cap companies are now also seeking ways to reduce exposure to the U.S. currency, with many switching contracts to yuan or rubles in trade with China, according to Daniel Haindl, the co-head of FX & interest-rates sales at VTB Capital in Moscow.“We also see that a growing portion of settlements between Russia and former Soviet countries is in rubles,” Haindl said.Washington imposed new penalties on Russia this month, including limits on buying newly-issued sovereign debt, in response to allegations that Moscow was behind a hack on SolarWinds Corp. and interfered with last year’s U.S. election.The Biden administration has said it’s prepared to escalate those penalties if the Kremlin fails to rein in hacking attacks and attempts to interfere with the U.S. political process.Russia must take urgent steps to cut its use of the dollar to a minimum to eliminate dependence on “this toxic source of permanent hostile actions,” Deputy Foreign Minister Sergei Ryabkov said in an interview in February.(Updates with VTB Capital comment from fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Wood, paper and packaging producer Segezha Group set a price range for its initial public offering in Moscow that values the company at as much as 152.4 billion rubles ($2 billion).That’s the top end of the 7.75 rubles to 10.25 rubles per share range offered to investors, Segezha, owned by billionaire Vladimir Evtushenkov’s Sistema PJSFC, said in a statement on Wednesday. The valuation of the company is given on a post-money basis, with pricing expected around April 28.Russian companies have joined the global IPO rush this year but the momentum may slow after the U.S. imposed fresh sanctions including restrictions on buying new sovereign debt. Political tensions are mounting over Moscow’s troop buildup on the Ukraine border, while supporters of jailed opposition leader Alexey Navalny plan protests across Russia on Wednesday as President Vladimir Putin gives his annual state-of-the-nation address.In early March, discount retailer Fix Price’s IPO raised about $1.8 billion in the biggest listing from a Russian company in a decade. But toward the end of the month, the owners of GV Gold PJSC, a miner backed by BlackRock Inc., put its share sale on hold indefinitely as the market weakened.Segezha last week said that it plans to raise at least 30 billion rubles selling new shares, while Sistema will provide an over-allotment option of secondary shares, equivalent to as much as 15% of the stock offered in the IPO, to the underwriters.Higher RevenueThe group is set to become Russia’s first publicly traded, vertically integrated forestry company as consumers turn away from plastics, boosting demand for its products, such as kraft paper, paper sacks and bags, and birch plywood.“I am pleased with the positive response we have seen from the global investment community to Segezha Group’s proposed IPO,” Mikhail Shamolin, the company’s president said in the statement.Segezha said its first-quarter revenue could jump as much as 29% to 18.5 billion rubles from a year earlier as stronger demand supports higher prices and production.JPMorgan Chase & Co, UBS Group AG, VTB Capital Plc, Alfa Capital Markets Ltd, Gazprombank JSC, BofA Securities and Renaissance Capital are helping to organize Segezha’s IPO.(Adds political tensions in third paragraph, first-quarter revenue eighth)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
NEW YORK, NY / ACCESSWIRE / February 12, 2021 / Rosneft Oil Co. (OTC PINK:RNFTF) will be discussing their earnings results in their 2020 Fourth Quarter Earnings call to be held on February 12, 2021 at 4:00 PM Eastern Time.