OREANDA-NEWS. OAO "Volzhskaya TGC" has extended the period during the open competitive negotiations will be held to select investment banks which will provide services relating to additional share offerings and investment banks to provide financial advise.

The investment bank which will arrange an additional share offering will be required to develop the strategy and the most efficient structure for raising funds through offerings of additional shares in OAO "Volzhskaya TGC". It will also ensure information availability and transparency of the offering process and taking into account shareholders' and investors' interests.

Bids will be accepted until 23 January 2007.