TGK-8, TGK-10 to De-List Shares

Power firm TGK-8, controlled by oil giant LUKoil, is to de-list its shares this month, stock exchange sources said Wednesday, as Fortum announced the same plans for its TGK-10.

TGK-10 has already de-listed its shares on the MICEX exchange after Fortum raised its stake to 93 percent, Fortum said in a statement Wednesday. It also expects the shares to be de-listed by the end of October from the RTS, the statement said.

LUKoil is set to remove its TGK-8 from trading on the RTS, a source at the exchange said, after its stake passed the 90 percent threshold.

The source said LUKoil had informed the RTS on Sept. 29 that its stake had risen to more than 90 percent. The bourse must now review the information in the course of a month and remove TGK-8 from trading.

A source at the MICEX exchange said this kind of information usually reaches both of the bourses at the same time.