MOSCOW, May 22 (RIA Novosti) - OGK-4, a Russian wholesale generating company, said Monday it would make an initial public offering on the Russian Trading System, Russia's premier stock exchange, in 2007.
Andrei Kitashev, the company's general director, said OGK-4 hoped to attract up to $500 million worth of investment in the IPO, and was currently consulting with Russian energy monopoly Unified Energy System (UES), of which it is a 100% subsidiary.
He said the company's investment needs accounted for some $3 billion to 2013, as OGK-4 was planning to increase its capacity to 10.6 GW by 2010 and to 12.6 GW by 2013.
With a current total capacity of 8.63 GW, OGK-4 produced almost 49 billion kWh in 2005.
The charter capitals of the five thermal power plants throughout Russia comprising the company total 8.2 billion rubles (almost $304 million).
