The Azerbaijan State News Agency

ECONOMY

NORWAY CONTINUES SELLING STATOIL SHARES

12.07.2004 [14:25]
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The Norwegian government continues to sell the state’s oil major Statoil’s shares to individuals.

This week other 18 million of shares are available.

According to Norwegian ministry of petroleum and energy, the government wants an extensive private ownership in Norwegian trade and industry, correspondent of AzerTAj reported.

This week, all five workdays, the Ministry of Petroleum and Energy will sell Statoil shares to private individuals at NOK 85 ($12.43) per share.

Private individuals in the European Economic Area (EEA) may place an order for between 50 and 10,000 shares. If the transaction is oversubscribed, it will be prioritized to sell at least 1,000 shares to each person purchasing shares if there are enough shares to go around.

In total 17.65 million shares have been earmarked for private individuals.