OGK - 5 will leave actions in the homelandthis week Russian Open Society board of directors “ UES of Russia “ will confirm placing of actions dopemissii the Fifth generating company of the wholesale market of the electric power (OGK - 5) at the Russian stock exchange. Such decision is accepted in connection with absence of the strategic investor and small volume of sold actions. However, by data, public placing of actions OGK - 3 and “ Mosenergo “ (TGK - 3) will already pass not only in Russia, but also at the London stock exchange.
tomorrow committee on strategy and Russian Open Society reforming “ UES of Russia “ will consider the problem on date and a place of placing of actions OGK - 5. By data, the committee recommends to Russian Open Society board of directors to spend IPO in November at the Russian stock exchange. As organizers will act Deutsche Bank, Credit Suisse and IK “ the Three Dialogue “. The Final decision about placing parametres will accept Russian Open Society board of directors on Friday.
In OGK - 5 data on carrying out IPO only in Russia do not confirm. Meanwhile the source familiar with a situation, has told that the Russian Open Society discussed three variants of sale of 12,7 % of actions OGK - 5 (after carrying out IPO the share of participation of the Russian Open Society in the company will decrease with 87,7 to 75 %). The power holding management chose between sale of actions to the strategic investor, their placing only at the Russian stock exchange or simultaneously in Russia and in London. However the investor was not, and last week the Russian Open Society management has decided (LSE) not to leave on the London stock exchange.
OGK - 5 - one of the largest generating companies in Russia. Total capacity of the developed electric power - 8672 MVt, heat - 2242 Gkal/ ch. Its structure includes four state district power stations: Konakovsky, Nevinnomyssk, Sredneuralsky, Reftinsky.
As has explained a source in the Russian Open Society, the decision on placing of actions at the Russian stock exchange is caused basically by the reasons of technical character. The matter is that usually on the London stock exchange of the company leave at volume IPO not less than $500 million (from sale of actions OGK - 5 it is supposed to gain about $400 million). Confuses organizers IPO and a small package of sold actions. Besides, at OGK - 5 there is no reporting on MFSO for last three years which presence is obligatory for carrying out IPO abroad. There was a possibility to spend a proforma of the financial reporting (when the company backdating audiruet the reporting during the last years), however on it too much time has left. According to analyst IK “ Aton “ Dmitry Skryabin, at the Sredneuralsky and Reftinsky state district power station of the financial reporting is not present at all - until recently both stations carried the status of branches of the Russian Open Society. To prepare reports, one month is required not. But IPO OGK - 5 it is already declared by the pilot project among the generating companies, and at meeting in Presidential Administration last Thursday state officials have insistently recommended to a Russian Open Society management to hurry and spend placing of actions in November.
according to the head of department of information policy NP “ the Manager of trading system “ Sergey Pikina, OGK - 5 has every chance to gain for the actions planned $400 million “ It before all has started to prepare to IPO and already has had time to adjust good mutual relations with investors “ - the expert believes.
displacement of terms IPO OGK - 5 since 2007 for November will accelerate also placing of actions of other generating companies. Following should become OGK - 3, it IPO on LSE will pass in the first quarter 2007 end. The Russian Open Society share in OGK - 3 will be lowered with 59,7 to 25 %, at the expense of placing is planned to involve about $300 million After OGK - 3 in the beginning of April on LSE will deduce actions “ Mosenergo “. The Russian Open Society share in this company also will be lowered with 50,9 to 25 %, the gain from IPO should make $1,4 billion