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MOSCOW () -- Shareholders in the oil producer have decided to split its 1,000-ruble nominal value shares into 10 shares of 100 rubles, a leading Russian broker, who asked not to be named, said Thursday.
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
Oil Firm Splits Shares
10 February 1995
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