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Russia TGK-13 to float 18.95 pct, plus part UES stake

Thu Feb 28, 2008 2:24am EST

MOSCOW, Feb 28 (Reuters) - Russian electricity producer TGK-13 TGKM.MM plans to float new shares in Russia and abroad, it said on Thursday, and its parent company said it could float an additional 14.25 percent of TGK-13 from its own stake.

The new shares to be issued equal up to 18.95 percent of TGK-13's equity capital, and the stake of the parent company, former electricity monopoly Unified Energy System (UES) EESR.MM, will drop to no less than 31.5 percent after the sale. (Reporting by Simon Shuster, editing by Gleb Bryanski and Jason Neely)



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