Shares of JSC IDGC of the North-West are traded in the Russian stock exchange CJSC MICEX in quotation list A of the second level.
| Trading floor | Ticker | Trading commencement date without listing procedure | Trading commencement date in quotation list B | Trading commencement date in quotation list A of the second grade | Exclusion from the list of listed securities due to the termination of the RTS activities* |
|---|---|---|---|---|---|
| MICEX | MRKZ | — | 29.05.2008 | 24.05.2011 | |
| РТС | Classic market — MRKZ, Stock market — MRKZG | 27.05.2008 | — | — | 19.12.2011 |
Dynamics of the share price in 2012 against MICEX’s and MICEX Energy’s Indices
Market characteristics
| Description | Measurement unit | December 31, 2011 | December 28, 2012 | 2012/2011 (relative growth), % |
|---|---|---|---|---|
| Average weighted price | RUB | 0,07806 | 0,06385 | -18.20 |
| Capitalization | RUB million | 7,477 | 6,116 | |
| Trading volume | RUB million | 252.39 | 118.53 | -53.04 |
| million shares | 1 883.16 | 1 604.51 | -14.80 |
The volatility of the Russian stock market in 2012 was lower compared to 2011. During 2012 MICEX and RTS indices fluctuated within a wide horizontal corridor. The changes in indices, same as before, were closely correlated with the changes in the world's oil prices (the relevant correlation coefficient was close to 1). Based on the results of the reporting period, the RTS index has grown by 10.5% and the MICEX index has grown by
The absence of a clear plan of the industry development and investors' uncertainty about which way they should eventually choose did not encourage a positive attitude of financial investors towards the sector in general. As a result, the electric energy sector fell out of sight of many market participants and the investments in shares of public companies of the industry were, in average, less profitable than the investments in shares of companies of other sectors. MICEX Index Energy decreased by 20% as of the end of the year.
In 2012 the market price for shares of JSC IDGC of the North-West decreased by 18.0%. In May the government made a decision to assign JSC FGC UPS with powers of a sole executive body of JSC IDGC Holding. During the month of May ordinary shares of JSC IDGC of the North-West lost about one third of its market value.
The application filed by the Ministry of Energy of the RF for privatization in the I quarter of 2013 of one of the subsidiaries of JSC IDGC Holding as a pilot project for increase of the efficiency of operation of JSC FGC UPS and the Holding had a neutral effect on the price of shares of JSC IDGC of the North-West.
In October 2012 the interest of market participants in shares of companies of the energy sector was supported by the news of cancellation of a merger between JSC IDGC Holding and JSC FGC UPS, resulting in the resumption of the idea of implementation of the government's plans for prompt privatization of the grid company. However, this news did not have any effect on the price for the Company's shares due to the fact that JSC IDGC of the North-West was not considered as a possible pilot project for IDGC privatization.
In September the government, after having approved the forecast for social and economic development of the Russian Federation, determined a general increase in regulated tariffs for services of natural monopolies in
In 2013 revenues, according to the Company's calculations, will amount to about RUB 32,821 million, which is 5.3% higher than in 2012 (RUB 31,169 million). EBITDA will also grow by 28% compared to the result of the reporting year amounting to RUB 5,027 million. Net profit of the Company in 2013 is expected to be RUB 96 million.