Rosneft to extend IPO deadine

MOSCOW, July 6 (UPI) -- Rosneft said Thursday it would extend its deadline for Russian nationals to bid for shares for its initial public offering by two days, until July 12.

The Russian state-run oil company is planning to float up to 400 million of its common shares. It will be Russia's biggest IPO this year, which the company has said it could bring in $8.5 billion and raise its capitalization to $60 billion and $80 billion, RIA Novosti reported.

The minimum bid to buy shares has been set at $5.55. Initially, Rosneft said it would set the share price range from $5.85 to $7.85.