The Management of Generation Company Four of the Wholesale Market of Power and Energy (WGC-4) has held a meeting with representatives of major Russian and foreign equity funds. The event was held with the participation of Citigroup. The meeting participants included portfolio managers and analysts of such funds and management companies as Prosperity Capital Management, Raiffeisen Capital, Greater Europe Fund, Templeton, VR Capital Group, Alfa Capital, Troika Dialogue, and Gazprombank. WGC-4 was represented at the meeting by Andrey Kitashev, Director General of the Company, Sergey Zhizhoma, Deputy Director General for Corporate Policy of WGC-4, and Roman Lenkov, Deputy Director General for Finance and Economy.
Mr. Kitashev informed the participants about the Company's production possibilities, implementation of major investment projects, and the WGC-4 plans related to operations in capital markets. Commenting on the first results of the trading of WGC-4 shares in the stock exchange, he evaluated them as positive – the weighted average price of the Company's security papers has exceeded their par value 1.4-fold. According to Mr. Kitashev, WGC-4 shares are expected to be included in Quotation List B of the Russian trading floors in November 2006. The Company management also expects that its shares will be included in Quotation List A after the IPO scheduled for 2007. Speaking of the Company's short-term plans, the WGC-4 Director General said that the Company hopes to be granted by Standard & Poor’s an international corporate governance rating in 4Q2006 and the ISO 9001 quality management system certificate in the first half year of 2007.
The WGC-4 top managers informed the portfolio investors about the issues relating to the Company's development strategy, its IPO procedure, efficiency of the TPPs managed by WGC-4, the situation with regard to fuel supply to those TPPs, tariff regulation, operations in the wholesale power market, and the selection of equipment suppliers for the construction of new generating facilities.