KIEV, April 2 – Ukraine plans to sell up to 25% of national energy company Naftogaz Ukrayiny at a future IPO, Energy and Coal Industry Minister Yuriy Boyko said Friday.

“We have approved a principle decision that up to 25% of shares of Naftogaz will be sold at a stock market,” Boyko said in an interview with Inter television.

This is the first time that a senior government official has estimated the size of the stake that the government plans to sell through the IPO.

Boyko said earlier the government had planned to raise between $5 billion and $6 billion from selling a stake in Naftogaz at one of international stock markets.