Gazprom for vouchers. Fifteen percent of the stock was allocated to Gazprom employees. The state retained 40% of the shares. That amount was gradually lowered to thirty-eight percent. Trading of Gazprom's shares was heavily regulated. Foreigners were prohibited from owning more than nine-percent of the shares. In October 1996, 1% of Gazprom's equity was offered for sale to foreigners as Global Depository Receipts. In 1997, Gazprom offered a bond issue of US$2.5 billion. Chernomyrdin, as Prime Minister of Russia, ensured Gazprom avoided tight state regulation. Gazprom evaded taxes, and the Government of Russia received little in dividends. Gazprom managers and board
Gazprom Arena by the city government of St Petersburg, with Gazprom switching to build a separate skyscraper project. The City Hall had to step in after Gazprom declined to invest any further money into the stadium's construction. On 25 July 2016 the general contractor, Inzhtransstroy-Spb, issued a statement that the city authorities have failed to pay 1 billion rubles ($15.8 million at the current exchange rate) worth of construction work and stopped the work. The next day the contract was terminated. On 1 August there were reports of wind damage to parts of the metal sheathing, and a flood. In the end