OREANDA-NEWS  On 11 September was announced, that financial analysts as a whole positively estimated the decision on spin-off of JSC Irkutsk Electric Networks from the structure of JSC Irkutskenergo. Thus, the analyst for IK Finam Konstantin Reili reported that in spite of the fact that reorganization was expected for the market, spin-off of networks can be estimated as the positive decision for minority shareholders of the company. Grid assets equal around 25 % of the company value, but this till now has not been taken into account by the market. The new asset can show good dynamics of growth of capitalization that will allow owners of its shares to receive the additional income. Besides, it is necessary to note that the price of the repayment of securities from shareholders who are against the reorganization was established with the premium to the market. The main disadvantage of JSC Irkutsk Electric Networks shares ownership is their expected low liquidity. However, these securities can be interesting for long-term investments, the representative of IK Finam explained.

The analyst Elina Kulieva of "Alpha-Bank" considers that JSC Irkutskenergo reorganization will not entail instant consequences for minorities. The main issue here is the estimation of Irkutskenergo business by directions. Meanwhile, division can render positive influence on dynamics of Irkutskenergo shares as this will allow to disclose value of various divisions of the power company.

Let us remind that the decision on reorganization of JSC Irkutskenergo by spin-off of JSC Irkutsk Electric Networks was taken on 5 September at the Company extraordinary general shareholders meeting. The capital stock of Irkutsk Electric Grids is RUR 21.2 billion. It was generated due to property of JSC Irkutskenergo and is divided into more than 4 billion ordinary shares of RUR 4.45 each. The capital stock includes both the transmission (55 %) and distribution networks (45 %). Value of the repayment of securities is established in the amount of RUR 19.06 per share. According to the Tuesday information, in Irkutsk average value of sale of Irkutskenergo shares equals RUR 17.51.