July 25, 2019 / 3:04 PM / 3 months ago

Gazprom gets bids worth $3.15 billion for sale of own shares

The logo of Russian gas giant Gazprom is seen on a board at the St. Petersburg International Economic Forum (SPIEF), Russia, June 6, 2019. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - Gazprom (GAZP.MM), the world’s biggest conventional gas producer, said on Thursday it had received bids worth 198.89 billion roubles ($3.15 billion) for 3% of its own shares that it is selling into the market.

Gazprom is selling a 3% stake as it is taking advantage of the company’s stock price being near its highest level in more than a decade. The stake is worth $2.3 billion, according to Refinitiv Eikon data.

Reporting by Andrey Ostroukh. Editing by Jane Merriman

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