Russia’s Inter RAO UES to hold IPO in 2009

9 October 2007 – Inter RAO UES, the Russian electricity monopoly’s import and export operator, intends to hold an initial public offering (IPO) in 2009, the company’s general director has said.

Yevgeny Dod said Inter RAO UES intended to register Global Depositary Receipts (GDRs) by the end of the first half of 2008 but declined to specify the IPO volume and GDR programs.

Currently, Unified Energy System (UES) holds a 60 per cent stake in Inter RAO, and the other 40 per cent belongs to state-controlled civilian nuclear power corporation Rosenergoatom.