Oct 22. The Bank of Russia does not rule out raising the refinancing rate by the end of 2007

Finamrus com 22.10.2007 15:10
http://www.finamrus.com/newtopics/news03B97/default.asp

The Bank of Russia does not rule out raising the refinancing rate by the end of 2007, first deputy CBR chairman Alexey Ulyukaev said Friday at the conference "The Russian Banking Sector: Growth Factors". "The refinancing rate is a symbolic position linked with inflation and we should and apparently will raise the refinancing rate" – he said. As wired earlier, CBR forecasts 2007 inflation at 9.5-10%. At present, the refinancing rate stands at 10%.

Oct 22. TGC-5 has wrapped up distribution of its GDRs as part of a pilot spin-off from UES,

Finamrus com 22.10.2007 15:01
http://www.finamrus.com/newtopics/news03B8E/default.asp

TGC-5 has wrapped up distribution of its GDRs as part of a pilot spin-off from UES, as less than half of the energy holding's GDR holders (43.8% of all shareholders) decided to receive receipts on the genco's shares, TGC-5 said in a press release. All in all, 65.7% of UES' GDR holders converted their receipts into TGC-5's securities (21.9% of them converted GDRs into the genco's shares). Other shareholders preferred cash to shares or receipts. All in all, 6.4% of TGC-5's shares were subject to the conversion. Following the placement, the share of GDR holders equaled 2.8% and that of TGC-5's stock holders came to 1.4%. TGC-5 believes that in the near future the number of GDR holders could increase primarily on the back of the acquisition of TGC-5's GDRs by US investors who were unable to take part in the stock distribution procedure because of some legal restrictions

Oct 19. Eurocement Holding AG, which owns 98% of Eurocement Group's charter capital, forwarded an offer to the company's minority shareholders

Finamrus com 19.10.2007 14:43
http://www.finamrus.com/newtopics/news03B80/default.asp

Eurocement Holding AG, which owns 98% of Eurocement Group's charter capital, forwarded an offer to the company's minority shareholders to buy out their holdings. The regional directorate of the Federal Securities Service in the Central Federal District received the document on October 3. Eurocement intends to offer Rub 157,252 per share of Eurocement Group. This price was recommended by Price Inform. Based on this valuation and the amount of Eurocement Group's charter capital consisting 500,000 common shares, the entire company could cost Rub 78.6 bln or $3.15 bln. Data shown in the buyout offer allow investors to assume that Filaret Galchev, Eurocement Group's beneficial owner, bought the company's interest from his long-time partner Georgy Krasnyansky.