15/12/2005 Drax Group join the Main Market
The London Stock Exchange is delighted to welcome Drax Group plc to the Main Market
15 December 2005
Drax Group plc ("Drax") is one of the largest independent generating companies in the country. At current output levels supplies around 7% of the UK's electricity needs.
Drax owns Drax Power Station, the largest, cleanest and most efficient coal fired power station in the UK and comprises six 660MW generating units. Each of the generating units can be operated independently and at varying capacity allowing each unit to be operated in a manner that maximises profitability.
Commenting on the flotation of Drax Group plc, the Company's Chairman, Gordon Horsfield said:
"I am delighted with the outcome of the process which has delivered our refinancing and listing. Drax is a major participant in the UK power market and I am pleased that a broad range of investors will now be able to participate in our success. All the staff at Drax have worked hard and shown tremendous commitment in getting to this point; together we look forward to the future with confidence and optimism."