"In the next two years, we'll hold IPOs for 10-15 companies established during the reform of RAO UES," the company's CEO Anatoly Chubais said.
Chubais said the IPO of wholesale generating company No. 5 (WGC-5) at the beginning of the month was a success.
"On December 8, the UES board of directors will discuss the views of the company's management on additional stock issues and will offer solutions based on the excellent IPO results by WGC-5," the head of UES said.
Following the IPO, WGC-5 increased its capitalization by 23-25%; at the IPO, the stock issue was oversubscribed by ten times, Chubais said.
Russia's power sector has undergone radical changes in recent years aimed at increasing the efficiency of power plants and developing the industry by attracting investment. During the restructuring process, specialized structures have been created in place of the old vertically integrated companies.
By the end of the reforms, potentially competitive parts of the industry - generation, sales and repair companies - will become mainly private and will compete with each other. However, natural monopoly functions - power transmission and dispatching - will remain state-controlled.
