Rosneft, the Russian state-owned oil and gas company, plans to raise up to $20bn (€17bn) by listing as much as 30% of its shares in London next June. It is set to be the largest initial public offering of a Russian company on the London Stock Exchange.

The oil and gas giant is set to float on the Russian RTS and MICEX bourses in April and to list global depository receipts on the London Stock Exchange on June 26, according to company documents cited by Reuters.