BUZZ-Russneft: opens above IPO price on debut

** Russian mid-sized oil producer's shares opened at RUB 605/shr, 10% above IPO price of RUB 550/shr

** Russneft placed 15% of its charter capital owned by the Gutseriyev family in a market debut on Moscow Exchange on Friday

** Its shareholders raised RUB 32.4 bln ($502 mln), valuing the entire company at RUB 161.8 bln

** Demand exceeded offer by more than 30% and retail investors placed more than 2,000 orders during the IPO, Russneft's co-owner and chairman Mikhail Gutseriyev, says

** Proceeds from the IPO to be used to redeem debt, new acquisitions, Gutseriyev said

** The Gutseriyev family controls 47% of Russneft's share capital after the IPO, while 25% belongs to commodities trader Glencore (HKSE: 0805.HK - news)

** VTB Capital, Sberbank CIB, as well as brokerage firms Aton and BCS acted as the IPO organizers ($1 = 64.5322 roubles)