Mosgaz becomes open joint stock company
MOSCOW. Jan 31 (Interfax) - State Unitary Enterprise of the City of Moscow Mosgaz, the largest gas distribution company in Russia, has been converted into an open joint stock company, Mosgaz said in a statement.
The Moscow Property Department published the relevant order on November 8, 2011.
Mosgaz has charter capital of 34.6 billion rubles, comprising ordinary shares of par value 1 ruble each.
According to the company's charter, during the period that the Moscow government owns shares in Mosgaz, its stake cannot be reduced during an additional issue.
Mosgaz pumps 26 billion cubic meters (bcm) of gas a year. For a long time, the company was not only privatized, but also not incorporated, in contrast with the majority of city and regional gas distributors in Russia. The possible privatization of Mosgaz is one of the most long-awaited transactions on the Russian gas market.
