Internet guide to St. Petersburg, the cultural capital of Russia Internet Explorer: add to favorites 
St. Petersburg guide / Home page
 News | Events | Playbill | City | Tourism | Accommodation | Business
 Culture | Dine & Wine | Nightlife | Family | Health & Sports | Excursions
Services | Shopping | Classifieds | Forums | Map | Weather | Articles

Personal live guide to PetersburgApartments rentBusiness in St. Petersburg
 in St.Petersburg: December 11, 2017; 5:36am (GMT+4). Search:
 Business news All business news in St. Petersburg 
Warning: current() expects parameter 1 to be array, null given in /home/webs/city.air.spb.ru/system/advert.robo on line 24
News at PetersburgCity.com
City news
Business news
Culture news
Anniversary news

Business news
Lenenergo shares gain USD 45 million in one week
02.11.2003 16:35

Lenenergo shares gain USD 45 million in one week The market value of Lenenergo rose by about USD 45.5 million last week to USD 252.8 million. The value of the electricity company's shares increased by over 18%. According to Alexander Korneev, an analyst at Aton Capital, the market value of all of Russia's electricity generating companies increased last week, but only St. Petersburg's generator saw such a sharp rise in its share price. 'Lenenergo's share price increased due to the news that Fortum has bought 9.3% of the energy company's from E.ON, increasing its stake to 15.7%,' said Korneev. He added that, despite the absence of any statements from the Finnish company, the market was expecting positive news from Fortum, which accounted for the increase in the share price. 'It is good for Lenenergo to have a Western energy company as a leading minority share holder during its restructuring process, rather than a Russian energy consumer, as this will reduce the risk of assets being lost during restructuring,' believes Korneev. Andrei Likhachev, Lenenergo's general director, who confirmed that the company's market capitalization had risen by almost 20%, believes that the main reason for the increase in the company's share price is the Lenenergo road show that took place last week in Europe. He believes that during meetings with investors 'management processes were given a positive evaluation, and the fact that the company has become transparent and is making investments made a strong impression.' Likhachev added that during the road show the company's financial figures and investment results aroused particular interest. Referring to his conversation with E.ON's management, Likhachev said 'the German company considers its investment in Lenenergo to have been its most successful venture in Russia and does not exclude buying Lenenergo shares again in certain circumstances.' He said that not long before its deal with Fortum, E.ON had considered acquiring a further 1-2% of Lenenergo's shares.

News source: www.lenpravda.ru
Print this news


Business news archive for 11 February' 2003.
Business news archive for February' 2003.
Business news archive for 2003 year.
City news archive
February' 2003
SuMoTuWeThFrSa
      1
2345678
9101112131415
16171819202122
232425262728 
       
Archive for 2003 year


 News | Events | Playbill | City | Tourism | Accommodation | Business
 Culture | Dine & Wine | Nightlife | Family | Health & Sports | Excursions
Services | Shopping | Classifieds | Forums | Map | Weather | Articles

Site Map | Search | Help/feedback | About | Advertise with us

Contacts: info@petersburgcity.com

(c) 2001-2016 "Information Resources" Agency