United Energy Systems stock soars by 11.26% today

Stock in United Energy Systems rose by 11.26% on May 21. According to the RTS stock exchange at 2:14 p.m. Moscow time the stock stood at USD 0.2115, and the rise was continuing. Since April 30, when UES stock was quoted at USD 0.1505, the value of the stock has increased by 29%. On May 21 the total market capitalization of the stock was USD 8.6 billion. Therefore, over the course of the day on May 21, the value of the stock has increased by approximately USD 832 million. Since April 30, it has increased by USD 2.4 billion.

According to investment company OLMA, UES stock 'is practically growing against the rest of the market.' 'All expectation now is connected with the upcoming UES board or directors meeting on May 23 where the '5+5' strategy will be reconsidered along with principles dividing the company. There may be the possibility for stockholders of UES to receive a larger share in the company than was proposed earlier with a proportional division,' a spokesperson at OLMA said. Moreover, on May 22 the Russian government will review its energy strategy and questions of tariff politics for 2004.

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