SGTZY - Surgutneftegas: Debt-Free $52 Billion Cash Pile For Sale At A Price Of $22.5 Billion
Note: Some of the source links in this article are in Russian.
Surgutneftegas (SGTPY) (SGTZY) is the third largest Russian company by oil production volume. Meanwhile, its shareholder value has not been impacted by oil prices for as long as 10 years. The fact is that the company has been accumulating cash on its accounts for the last 20 years, and it is not yet known when shareholders will receive these funds. To understand the situation better, let us start with Surgutneftegas’s history.
Surgutneftegas’s shareholder structure
Surgutneftegas has disregarded its shareholder interests throughout its entire