ARMENIA: IPO PLANNED FOR ARMROSGAZPROM

Stratfor
May 22 2006

The Armenian-Russian energy company ArmRosgazprom is planning to hold
an initial public offering (IPO) in 2007-2008 in order to increase
resources for developing the company, ArmRosgazprom’s CEO Karen
Karapetian said May 22. ArmRosgazprom is owned 45 percent by the
Armenian government, 45 percent by Gazprom and 10 percent by Russian
private firm Itera. Karapetian said that Itera might sell its stake
in the company. Gazprom has stated that it is planning to increase
its shares in the company.