15 Jan 2018 11:16

GEH does not currently see prospects for IPO

MOSCOW. Jan 15 (Interfax) - Gazprom Energoholding (GEH) is not currently planning to revisit the idea of an initial public offering, because Russia's electricity sector is undervalued, the power company's CEO, Denis Fyodorov told reporters.

"No, for now, no," Fyodorov said when asked if GEH plans to return to the idea of an IPO. "We believe that at present [the electricity sector] is undervalued," he said.

Fyodorov previously said that GEH planned to carry out an IPO in 2016-2017 that would offer investors 5%-10% of shares in the company. But these plans were shelved due to the market situation and because the group believes its companies are undervalued.

There were also plans to transition to a single share, but this would require the approval of minority shareholders.