The company's board of directors appointed Thursday a consortium of world leading investment company UBS Advisory Services and Russian brokerage Troika Dialog as an investment consulting bank for the stock issue.
The OGK-4 general director was instructed to sign an agreement with the consortium of consultants by September 5, 2006 on preparing and floating the company's additional shares.
The Russian electricity monopoly Unified Energy System, which holds an 89.6% stake in OGK-4, approved August 30 the floatation of the company's additional stock. The share offering will reduce the power monopoly's shareholding in the company to 50% plus one share.
Registered on March 4, 2005 in the city of Surgut in the Khanty-Mansi Autonomous District in Western Siberia, OGK-4 includes five thermal power plants: one in Western Siberia, one in the Far East, two in central Russia and one in the Perm Territory in the Urals area.