MOSCOW, February 15 (RIA Novosti) - WGC-6, a Russian wholesale power generating company, will define the parameters for an additional share issue within an initial public offering (IPO) in March-April, the company's press office said.
The company's board of directors approved February 15 a schedule of necessary measures to prepare for the IPO, which is considered a top priority for the company.
As reported earlier, WGC-6 intends to hold an IPO worth 24 billion rubles (about $910 million) in the fourth quarter of 2007, or the first quarter of 2008.
Established in 2005, WGC-6 is the second largest of the wholesale generating companies in terms of installed capacity that were formed during the restructuring of Russia's power system.
The company, which combines six hydropower plants, has a charter capital of 23.8 billion rubles (about $860 million). Russian electricity monopoly Unified Energy System holds 100% of the company's stock.
