IDGC Holding may put 2.5 bln rubles into IDGC North Caucasus
MOSCOW. Feb 5 (Interfax) - Inter-District Grid Company Holding (IDGC Holding, MRSK Holding) may invest 2.5 billion rubles in the capital of IDGC North Caucasus.
The IDGC Holding board asked its representatives to vote in favor of including the issue of raising company charter capital on the agenda of an IDGC North Caucasus shareholder meeting.
Charter capital is to be increased through an additional share issue of no more than 2.54 billion rubles, an amount IDGC Holding obtained from the federal budget, and IDGC Holding is to maintain its stake in the charter capital of its subsidiary.
The shares will be placed through open subscription.
The placement price will be based on the weighted average price of deals with IDGC North Caucasus common shares over a three month period on the MICEX Stock Exchange.
IDGC North Caucasus has charter capital of 56.09 million rubles, split into shares with par value of 1 ruble.
IDGC North Caucasus provides electricity on grids with voltage of from 0.4 kV to 110 kV, and also connects consumers to grid infrastructure in the North Caucasus Federal District. IDGC Holding owns 78.01% of the company.
