Russian oil firm Russneft plans Moscow share sale

MOSCOW, June 6 (Reuters) - Russian mid-sized oil producer Russneft, majority owned by businessman Mikhail Gutseriyev, plans to sell new shares on the Moscow stock exchange in the fourth quarter, a company spokesman said on Monday.

Russneft, which produced 7.4 million tonnes (150,000 barrels per day) of oil last year, plans to sell a stake of 25 to 49 percent, comprising new shares, in an initial public offering (IPO), depending on demand, the spokesman said.

RBC (Other OTC: RBCI - news) newspaper on Monday quoted Russneft co-owner Mikhail Shishkhanov as saying Gutseriyev's family and trader Glencore (Amsterdam: GX8.AS - news) will remain its major shareholders after the IPO.

It (Other OTC: ITGL - news) also quoted a banking source as saying the company wanted to raise $2 billion through the share sale.

Russneft, in which Gutseriyev's family currently controls 54 percent of shares and Glencore (Xetra: A1JAGV - news) owns 46 percent, declined to comment on the valuation.

According to Moody's Investors Service, Russneft's total debt stood at around $2.5 billion as of 31 December 2015, including a $2 billion loan from VTB. (Reporting by Vladimir Soldatkin; Editing by Maria Kiselyova and Louise Heavens)