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PVOil - Poised to transform into a privately-run company - IPO Note

PVOil plans to offer a 20% stake to the public and a 44.7% stake to strategic investors in early 2018, which implies USD122 million for financial investors and USD272 million for strategic investors at the IPO starting price. After the IPO, state ownership will be reduced to 35.1%, allowing a strategic partner to actively manage and operate the company.