OREANDA-NEWS. OJSC TGС-5 plans to float an additional issue of shares at the price of 3,53 kopecks per share. This price was approved on 7 May by the company's Board of Directors.

TGС-5 is additionally issuing 329,734,150,582 of common shares at the nominal price of 0,01 rubles making 36,62% of the current and 26,8% of the increased capital of the company. The resources to be raised owing to the additional issue will be directed to financing the company's investment program.

In late April, IES-Holding submitted an application for the purchase of the entire package of TGС-5 shares floated as part of the additional issue.

Currently IES-Holding manages a 20-percent stake in TGС-5.

The floating of the TGС-5 additional issue is organized by Morgan Stanley and KIT Finans.

TGС-5 is included in the list of projects to float additional issues of WGСs and TGСs shares with the purpose of raising financial resources for development of heat generation facilities. This list was approved by the RAO UES Board of Directors on 29 September 2006.

TGС-5 was registered on 22 March 2005; it includes Vyatka, Mari, Udmurt, and Chuvash generating company. The TGС finalized consolidation of assets on 31 March 2006. Now TGС-5 incorporates 11 plants, the total capacity of which is 2,500 MW and the heat power, 9,300 Gcal/h.

In July 2006, TGС-5 shares became available at CJSC MICEX, OJSC RTS Stock Exchange, and the RTS Stock Exchange noncommercial partnership. In November, the company's shares were registered as listed securities and started trading in quotation list B at CJSC MICEX Stock Exchange and RTS Stock Exchange noncommercial partnership.