Inter RAO Unit to Hold IPO

By The Moscow Times

Oct. 2, 2012

Inter RAO Lietuva, a Baltic electricity trader 51 percent-owned by Russia's Inter RAO, plans to hold an initial public offering in Warsaw at the end of 2012 or the beginning of 2013, an Inter RAO official said.

Ilnar Mirsiyapov, a board member of Inter RAO, said Lithuanian investment company Scaent Baltic, which owns the remaining 49 percent stake, will sell up to 25 percent on the Warsaw exchange.

"They are planning to sell between 15 and 25 percent," he said, adding that the company did not plan to issue and sell new shares in the deal, expected to happen late in 2012 or the first quarter of 2013.

(Reuters)

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