Rusatom Overseas contributes 50 bln rubles to Akkuyu Nuclear via supplementary issue
MOSCOW. Feb 12 (Interfax) - Akkuyu Nuclear, the company building the Akkuyu nuclear power plant in Turkey, has completed placing another supplementary share issue.
Rusatom Overseas contributed 50 billion rubles to Akkuyu Nuclear via a supplementary issue of shares, boosting its stake in the company by 61.4% to 74.9%, while other shareholders saw their stakes diluted.
Turkey's Trade Registry Gazette published official information about Akkuyu Nuclear's charter capital increase on February 10.
Post-placement, the stake held by Rusatom Overseas rose to 74.914564% (up from 46.4% on December 31, 2013), while the stake held by CJSC Atomstroyexport declined to 2.267011% (4.84%), OJSC Rosenergoatom Concern - to 21.948455% (46.87%), and the Atomenergoremont and Atomtekhenergo stock companies - to 0.024624% each (0.05%).
In early February, Inter RAO UES reported that its stake in Akkuyu Nuclear fell 57%, to no less than 0.5% from 1.14% previously. According to the Trade Registry Gazette, Inter RAO's stake post-placement is 0.820722%.
The supplementary share issue added the equivalent of 50 billion rubles to Akkuyu Nuclear's charter capital, which totaled 4.361 billion Turkish lira prior to the issue.
In January, the Central Bank of Russia registered a Rusatom Overseas supplementary issue totaling 60 billion rubles sold in a private placement in favor of Rosatom and Atomenergoprom . The final placement date is June 30, 2015. The proceeds from the placement will be used to finance Rosatom's foreign projects.
Last year, Rusatom Overseas had placed supplementary shares, also totaling 60 billion rubles, in favor of Rosatom and Atomenergoprom. The proceeds from the placement "will be used to finance construction of the Akkuyu nuclear power plant in Turkey in accordance with the government instruction concerning Rusatom Overseas' determination of the organization authorized to implement Russian-designed nuclear power plant construction projects abroad," the company told Interfax previously.
Rosatom will receive about 50.1 billion rubles in state subsidies in 2015 for construction of the Akkuyu nuclear power plant. Russia provided Rosatom 22.5 billion rubles in subsidies for the Akkuyu project in 2014. The money is contributed to the project company's capital in tranches. No budget allocations are stipulated in 2016-2017. The $22 billion Akkuyu nuclear plant is being built on a build-own-operate (BOO) basis, with the Russian side as the owner.