Russian equity: OGK-1 powers up share offering

Deal resumes Russian equity issuance; Proceeds earmarked for capex programme

Russia’s biggest electricity generator, OGK-1, is set to hit the road in October to market a 38-billion-share issue to investors. Goldman Sachs and Troika Dialog are lead managing the planned secondary public offering, which will amount to 85% of the company’s outstanding share capital. Although part of the deal will be sold to existing strategic investors, OGK-1 recently secured permission from the Federal Securities Commission for a foreign listing of up to 7.2 billion shares in London.

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