The bids will be admitted on August 30-September 27.
According to acting chairman of the fund, Kirill Tomashchuk, the bidders are to leave 450 million rubles (29 rubles equal $1) in up-front money in the Central Bank and notify the Federal Anti-trust Service of their intention of purchasing the state-owned shares by then.
The auctioning is due on September 29 and will start with the price of $1,928 million.
According to Tomashchuk, ConocoPhillips and David Guggenheim representing Dabir International have already declared their intention of participating in the auctioning. Russian companies have not announced any intention yet.
The Russian Federal Property Fund expects the final price of Lukoil shares to reach the market price of the shares for the moment of auctioning and even higher. The starting price has been set at $29.83 per share.
Experts have unanimously told RIA Novosti that this price was fair.
In late July, Prime Minister Mikhail Fradkov signed a decree to sell state-owned shares of Lukoil (7.59%) at the open auctioning in a single lot (to one investor).
The Federal Agency for the Federal Property Management has set the normative price of Lukoil's 7.59% of shares at 36,758 million rubles.
