Sector: Distribution Grids
Trading in a number of distribution grid stocks was suspended due to their conversion into MRSK Urals and Volga shares which are to be listed on stock exchanges in late April 2008.
On February 22, 2008 trading was suspended in a number of distribution grid stocks (see the table below) due to their reorganization in the form of a merger with MRSK Urals and Volga. We have therefore downgraded our recommendations previously assigned to these shares.
| Company | RTS ticker | Share swap ratio |
|---|
| Kalugaenergo | KLEN | 24,393 / 3,660,401 | | Tulenergo | TLEN | 24,393 / 117,828 | | Ryazanenergo | RZEN | 24,393 / 1,572,918 | | Vladimirenergo | VLEN | 24,393 / 8,307,841 | | Ivenergo | IVEN | 24,394 / 116,435 | | IVENP | 24,395 / 106,632 | | Nizhnovenergo | NNGE | 24,396 / 194,079,154 | | NNGEP | 24,397 / 177,737,689 | | Kirovenergo | KIRE | 24,398 / 97,418 | | KIREP | 24,399 / 89,216 | | Udmurtenergo | UDME | 24,400 / 1,454,307 | | UDMEP | 24,401 / 1,331,854 | | Marienergo | MIEN | 24,402 / 819,890 | | MIENP | 24,403 / 750,855 |
* shares in distribution grid company/ shares in MRSK Urals and Volga
In late February, possibly February 29, an entry is to be made on the termination of RSK activities as a result of their merger with MRSK. State registration of the report on the results of an additional share issue of MRSK Center and Volga by FSS is slated for April. After that, shares in MRSK Center and Volga are to be listed on the stock market. Investors which were not shareholders of these companies before are to receive shares in MRSK Center and Volga in late April based on the share swap ratios. Konstantin Reily
Other comments of the day
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IRDGC Center and Volga
Capitalization: $315 553 887,72
Common shares:
Price: $0,0028
Target price: $0,0096
Recommendation: Buy
Delta week: 10,9%
Delta month: -13,4%
Delta year: --
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0.553
1.6
