The decision was taken to improve liquidity in the stock, which is one of the most traded shares on Russia's over-the-counter market. The old shares trade at around $60 to $65.
Chernogorneft is a crude oil production firm which is 37.7 percent owned by the giant Sidanko oil company on behalf of the state. It produced 6.7 million tons of oil last year, Interfax said
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