OGK-2 genco shareholders buy 10 bln rubles in new shares in rights offering
MOSCOW. Dec 4 (Interfax) - Shareholders in the OGK-2 generating company bought 10 billion rubles worth of shares in the rights offering of an additional share placement in September, the genco said in a financial statement.
The genco started placing 110 billion shares in by preferred rights on September 25. The rights offering expires January 17.
The placement price comes to 0.45 rubles per share at a face value of 0.3627 rubles each. If the additional share placement is made in its entirety, the company might raise 49.5 billion rubles, which would boost its charter capital by almost 100%. OGK-2's charter capital now consists of 59,327,926,960 common shares at a face value of 0.3627 rubles each.
The additional shares are being placed in order to finance OGK-2's investment projects in the framework of capacity supply agreements. The controlling shareholder in the genco, Gazprom Group , will provide the company with funds through the additional share issue for the investment program. Gazprom's contribution might come to around 20 billion rubles.
OGK-2's management estimates the costs for the genco's obligatory investment program at 14 billion rubles (with VAT) in 2012 and 20 billion rubles in 2013.
In the wake of its merger with OGK-6 , OGK-2's installed generating capacity is now about 18 gWt. The unified company includes the Serov, Troitsk, Stavropol, Pskov, Ryazan, Novocherkassk, Kirishi, and Cherepovets State District Power Plants (GRES), Krasnodar GRES-2, and Surgut GRES-1.
Gazprom's stake in OGK-2 is 57.6% and OJSC Inter RAO UES' - 5.7%. The power holding has no plans to take part in the additional share issue, Inter RAO head Boris Kovalchuk earlier said.