MOSCOW, June 17 Russia's top natural gas
producer Gazprom listed on the Singapore
stock exchange on Tuesday, giving it greater access to Asian
investors in the wake of a multibillion-dollar gas supply deal
The state-controlled company said in a regulatory filing
that its American Depositary Receipts (ADRs), which are already
listed on the London Stock Exchange , had been
admitted for trading on the Singapore exchange.
"This is just an expansion of trading platforms, an increase
in accessibility of the stock for local investors. There is no
placement (of new shares)," a spokesman for Gazprom said.
Moscow-listed Gazprom announced plans to list in Singapore
in May, without giving a reason for the move.
A week later, Gazprom sealed a $400 billion gas supply deal
with China in a political triumph for Russian President Vladimir
Putin, who is courting partners in Asia due to a cooling of
relations with the West over the Ukraine crisis.
The Singapore exchange said it saw Gazprom's introductory
listing as important in cementing business ties between Moscow
"We look forward to being both a capital-raising and
business platform for Russian companies expanding their business
into Asia," Magnus Bocker, the exchange's chief executive, said
in a statement.
An equities salesman at a Western investment bank in Moscow,
however, doubted whether Gazprom had pursued the Singapore
listing because of financial considerations.
"At the moment, this listing looks like a politically
motivated move, since the Singapore exchange seriously lags
other Asian bourses by size and turnover," the salesman said.
(Reporting by Zlata Garasyuta and Denis Pinchuk in Moscow and
Daga Anshuman in Singapore; Writing by Alexander Winning;
Editing by Mark Heinrich)