DTEK raises Swiss trading company's charter capital by $54.2 mln
KYIV. Feb 3 (Interfax) - DTEK, Ukraine's largest privately owned energy holding, has increased the charter capital of its Swiss-based trading subsidiary, DTEK Trading S.A., by CHF49 million to CHF49.1 million or $54.2 million at the current forex rate, Swiss media reported.
Simultaneously, shares of DTEK Trading's additional issue were swapped for 2,000 Cyprus-based DTEK Trading Ltd.'s shares worth CHF116.406 million.
"Shares of DTEK Trading Ltd. were incorporated into charter capital of DTEK Trading SA as part of the decision [to set up DTEK Trading SA in order to secure direct access to the energy markets of Europe]. The formation of shareholders' premium worth CHF116 million is connected with the need to observe the tax laws of Switzerland," DTEK's press service told Interfax-Ukraine.
DTEK Trading SA was set up in July 2013. It will carry out the bulk of trading in electricity and coal on European markets.
