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RusHydro negotiates placing with Asian platforms - company CEO

November 09, 2014, 14:10 UTC+3
“We are negotiating actively now with Hong Kong’s exchange listing of our shares. I believe, before the yearend I shall have a meeting with the exchange’s management,” he said
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© Sergei Bobylev/TASS

BEIJING, November 9. /TASS/. RusHydro is for privatisation through SPO and negotiates with Asian platforms, the company’s head Evgeny Dod told reporters on Sunday.

“We are negotiating actively now with Hong Kong’s exchange listing of our shares. I believe, before the yearend I shall have a meeting with the exchange’s management. We are also working with Singapore,” he said.

The company continues its work with the London Stock Exchange, where the company’s shares are traded.

“Thus, I believe we shall have international SPO,” the company head said commenting on privatisation plans.

“It is rather senseless to have privatisation now, as share prices do not reflect the fundamental price.”

RusHydro is on the government’s list for privatisation in 2015-2016. After privatisation, the share of the state should lower from 67.12% to 50% plus one share.

RusHydro is a major Russian energy holding company, which unites over 70 facilities of renewable energy in Russia and abroad. The capacity of the holding’s power plants is 38.2 gigawatts.

RusHydro’s net profit in 2014 may grow almost twice

RusHydro’s net profit in 2014 may grow almost twice, to 40 billion roubles (about $800 million), EBITA will go down by 18% to 65 billion roubles ($1.4 billion), the company’s CEO Evgeny Dod told reporters on sidelines of APEC summit on Sunday.

The top manager did not give any forecasts for profits in 2015.

In 2013, the company’s net profit was 20.993 billion roubles ($435 million), EBITA - 79 billion roubles ($1.7 billion).

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