This from Peru’s bizrag of choice, Gestión, today:
Petroperú to Quote on the Lima Stock Market in April
13:03: The State-run company reported a profit of S/316m (U$117.5m) in 2011, 6% than the year before.
Petroperú, which in April plans to float a minority of its shares in the local bourse, said Tuesday that it had registered a profit equivalent to U$117m in 2011, 6% higher than in 2010. The president of Petroperu, Humberto Campodónico, said that the petroleum company had reported a profit of 316 million Soles last year, compared to S/299m in 2010, without giving any further details of the financial results.
Stock Market IPO
The law tells us that we can place up to 20% [of shares on the open market] and we are in the process of ascertaining, along with an structured broker who is helping us with this process, which is the best way of presenting the float to the Lima Stock Market (BVL) and how many shares we will place”, said Campodónico.
He went on to say that 80% of shares of Petroperú will continue to be owned the The State of Peru to guarantee its public nature, although it is also looking to compete on an equal footing with other companies in the sector.
“We hope that this year will be better than last year. Last year the BVL lost 12% or even more (ottonote; real figure 16.7%) therefore it’s something we have to evaluate”, he stated. He estimated that by April Petroperú will be in conditions to quote on the BVL.