28/03/2011 The London Stock Exchange welcomes Federal Grid to the Main Market
The London Stock Exchange today welcomed Federal Grid (FEES), the operator and manager of Russia’s unified electricity transmission grid system, to mark the first day of unconditional trading in its global depository receipts on the Main Market of the London Stock Exchange following its successful listing on the LSE.
Federal Grid provides electricity transmission services to the Russian energy market. With over 121,000 km of transmission lines and approximately 800 substations with over 305 GVA of installed transformer capacity, it is the largest publicly traded electricity transmission company in the world.
Oleg Budargin, Chairman of the Management Board of Federal Grid, said: “We are delighted to see the launch of trading in Federal Grid’s GDRs on the London Stock Exchange. This is an important milestone for Federal Grid, which is a leading Russian blue chip company and the largest electricity utility in Russia by market capitalisation.
The reason for this listing is to make it easier for international investors to access our shares. We believe that this international listing will help to boost the liquidity of our depositary receipts and further diversify our investor base“.