RusHydro raised 68.6 bln rubles with share issue
MOSCOW. Dec 2 (Interfax) - Russian power generating company OJSC RusHydro has closed an additional issue of 110 billion shares and placed 62.38% of the total amount of the issue, the company said.
In total, 68.617 billion shares were placed at 1 ruble a share. Of these shares, 50.022 billion were paid for in cash and 18.595 billion in non-cash assets. In other words, the company earned 68.6 billion rubles.
RusHydro placed the new shares at 1 ruble a share. In the first stage, RusHydro placed by pre-emptive right 60.9% of shares at 66.99 billion rubles in total. The total shareholder equity of the company is 50.022 billion rubles, 50 billion of which were set aside from Russia's budget for financing the construction of four thermal power plants in the Far East. Additionally, RusHydro received stakes in four companies. The overall value of assets and cash contributed to charter capital was 66.995 billion rubles.
RusHydro also collected bids for shares by open subscription on November 5. There were no large deals made in the open subscription placement, the company said.
The additional offering was registered on December 3, 2012.