First Russian power IPO raises $459million (160 words)

Reforms to the Russian energy sector gathered pace with the successful IPO of the Fifth Power Generation Company (OGK-5). The book for bids closed on this, the first IPO in the sector, on 30 October.

Speculation that Gazprom would buy the entire issue, thereby creating a gas and power monopoly, proved false. Subsequent to the issue, RAO UES will control 75% of OGK-5, compared to 87.7% previously. Strategic investors, including the European Bank for Reconstruction and Development, received 5%

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: