This is almost the upper limit in the price range of $5.85-$7.85 per share the country's second largest crude producer announced earlier.
Funds raised at the offering will total $10.4 billion, making it the world's fifth largest IPO and the largest in Russia.
Rosneftegaz, which holds 100% of Rosneft's shares, will float 1,126,357,616 shares and GDRs totaling $8.5 billion. Rosneft will sell a further 253,874,997 shares in the form of GDRs totaling $1.9 billion
Rosneft said its capitalization after the IPO would stand at $79.8 billion.
"Given the IPO volume and placement price, along with the exchange of stock linked with the consolidation of minority shares in a number of subsidiaries, Rosneft oil company's capitalization will be $79.8 billion," the company said, adding this would make it Russia's second largest company in terms of capitalization.
The company's capitalization could rise to $80.2 billion if the leading international IPO coordinators and book-runners - ABN AMRO Rothschild, Dresdner Kleinwort Wasserstein, JPMorgan Securities Ltd., and Morgan Stanley & Co - choose to realize an additional share option.
The organizations could acquire 52,980,132 GDRs at the placement price, which is about 4% of the floated shares and GDRs.
Rosneft also said it expected to complete the process of consolidation with its main subsidiaries by late 2008.
The offer price would allow Rosneftegaz to pay off about $7.5 billion of a syndicated debt the company received in September 2005 to acquire a 10.74% stake in energy giant Gazprom, pay income tax and banks' commission fees.
Rosneft plans to pay its $11.14 billion debt for acquiring Yuganskneftegaz, the core production unit of embattled oil company Yukos in December 2004, invest in modernization and other areas of its activity.
Yugansk was auctioned off as payment on Yukos' multi-billion back tax bills and then re-sold to Rosneft via a mysterious company. Yukos founder Mikhail Khodorkovsky was jailed for fraud and tax evasion.
This fuelled foreign investors' criticism of the planned IPO's transparency and fear of legal risks. International financier George Soros and some U.S. politicians called in April for the placement in London to be boycotted.
But the LSE reportedly adopted a decision in favor of the IPO late Tuesday.
The number of bids has exceeded the offer 50% and totaled over $15 billion, the largest amount in the history of Russian IPOs, Rosneft said
Strategic investors account for 21% of IPO bids, international investors from the U.S., Europe and Asia - 36%, Russian investors - 39% and Russian retail investors - 4%.
Russian retail investors filed over 115,000 bids, a record for Russian private investors in a company. Russia's Sberbank savings bank acted as the main coordinator and manager of the IPO in Russia.
Rosneft shares have been listed on Russia's RTS and MICEX trading floors and GDRs on the London Stock Exchange. Trading in London is expected to start July 19.
