Moscow. 29 June 2006. OAO "WGC-5"* has invited bids to take part in the competitive negotiations to select an advisor to provide marketing, financial, and legal support in the process of floatation of additional shares.**
The bids are accepted through 5 July 2006. The invitation to tender is issued to firms with a successful track record in arranging large (over $100 million) additional stock issues for Russian companies on the Russian and international stock exchanges, experience of work on the Russian and international securities markets, and the requisite capacity.
The competitive negotiations are expected to take place on 11 and 12 July 2006. The contract will be awarded by the WGC-5 Central Procurement Commission.
You may view the tender notice and complete technical specifications of the project at the WGC-5 website: www.ogk-5.com/purchase/uploads/28_06_2006_462.doc
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* The Board of Directors of RAO "UES of Russia" approved the establishment of OAO "WGC-5" as its wholly-owned subsidiary at the Board meeting held 3 September 2004. The target structure of OAO "WGC-5" was finally formed on 1 April 2006.
OAO "WGC-5" comprises the Konakovskaya TPP, Nevinnomysskaya TPP, Reftinskaya TPP, and Sredneuralskaya TPP. RAO "UES of Russia" holds a 87.7% stake in OAO "WGC-5". WGC-5 shares were admitted to trading on ZAO "MICEX Stock Exchange", OAO "RTS Stock Exchange", and NP "RTS Stock Exchange" in September 2005. At the same time, an unsponsored GDR programme was established.
** On 23 June 2006, the Board of Directors of RAO "UES of Russia" approved the list of pilot projects to issue additional shares of WGCs and TGCs in order to raise funds needed to develop thermal generation, and gave approval to the sale of part of RAO UES shareholdings in these companies. The list includes OAO "WGC-3", OAO "WGC-4", OAO "WGC-5", OAO "Mosenergo" (OAO "TGC-3"), and OAO "TGC-9".
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