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MOSCOW (AP) - An independent valuation of state-owned Russian oil company Rosneft will be presented in October, ahead of an initial public offering of its shares tentatively slated for late 2006, the country's economics minister said Tuesday.
"A market valuation of Rosneft's current capitalization has been ordered from a bank," the RIA-Novosti news agency quoted Economic Development and Trade Minister German Gref as saying. He said the shares would be sold on the London Stock Exchange.
"This is a new assessment, which will be a guide to Rosneft's value in the coming year," Dow Jones Newswires quoted him as saying.
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