Adds detail, background
MOSCOW, Nov 22 (Reuters) - Russian gas giant Gazprom GAZP.MM said on Friday its subsidiary was selling about 3.6% Gazprom shares at 220.72 roubles each, implying proceeds of 187.7 billion roubles ($2.95 billion).
Shares in Gazprom, the world's largest conventional gas producer, rose 2.6% on Thursday after the company announced it was selling the stake in a secondary share offering. The stock closed at 254.35 roubles a share.
Shares opened up 0.3% on Friday.
This was the second offering of Gazprom's shares this year, completing the sale of its so-called quasi-treasury shares, which do not benefit from dividend payments.
The shares had been initially bought back by Gazprom in 2016 from Russian state development bank VEB [RIC:RIC:VNSCB.UL], which entered the gas giant's share capital in 2008 when it helped state-owned entities amid the global financial crisis.
Gazprom, headed by Alexei Miller, a long-standing ally of President Vladimir Putin, sold a first batch of shares in July to an unknown buyer for $2.2 billion with a discount to the market price.
(Reporting by Anton Kolodyazhnyy; Writing by Alexander Marrow; Editing by Clarence Fernandez)