OGK-4 wholesale electricity co. in IPO talks with foreign firms

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MOSCOW, July 12 (RIA Novosti) - OGK-4, a Russian wholesale electricity generating company, said Wednesday it was holding talks with foreign companies on their participation in its initial public offering.

Sergei Zhizhoma, OGK-4 deputy general director for corporate policy, said the company would like to see foreign energy companies, large electricity consumers and fuel suppliers among its IPO partners.

Russian companies are thought to be heavily undercapitalized and in need of funds to compete with Western firms.

Zhizhoma also said large foreign companies like Italy's Enel and Finland's Fortum had displayed interest in the company's IPO.

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