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OGK-5 is one of the seven wholesale generating companies established within the framework of the RAO UES reform. In 2003 we were their pilot project; today we are one of the leaders in the Russian power sector.
In November 2006, we were the first in the sector to have successfully held an IPO, placing more than 14% of our share capital and having the oversubscription of 9 times at the placement price. Investors, who reasonably reckon upon the growth of the efficiency and value of Russian energy companies, showed a high esteem of OGK-5’s investment projects and development strategy – that we are ready to assume full responsibility for the implementation of the declared plans, be fully accountable to our shareholders, and that the main goal of the Company’s development is the increase of its capitalisation to serve your interests.
Another positive fact speaking in favour of our company is the purchase of more than one quarter of OGK-5’s shares by Enel Group, the largest energy company in Italy and the third largest company in Europe in terms of capitalisation. Today the stake of Enel in our share capital is 37.15%. Together we entered into a Cooperation and Mutual Commitments Agreement. This event is a very important step in our development. We have always been treating the desires of our shareholders with utmost care. That is why the algorithm of cooperation agreed upon with Enel will be a new yardstick for building up OGK-5’s relations with all shareholders and investors.
We are bound to further transparency to you and constant increase of our corporate governance. We will continue to built it on the basis of full accountability, transparency and responsibility to all shareholders and investors. We will continue to adopt best world practices in this sphere, and this section of the website will be your source of all valuable information.
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