OGK-2 board to decide on price for additional shares for investment on Sept 13
MOSCOW. Sept 12 (Interfax) - The board of directors at generating company OJSC OGK-2 will convene on September 13 and decide the placement price for an additional share issue, the company said in a statement.
The additional share issue is for financing the genco's investment program. A total of 11 billion shares will be placed at a face value of 36.27 kopecks each. The total face value of the issue comes to 39.897 billion rubles.
The controlling shareholder in the genco, Gazprom Group will present funds for the investment program through the additional share issue. Based on share face value and the size of Gazprom's stake in OGK-2, the gas giant's stake in the additional share issue will come around 23 billion rubles.
The genco's management estimate costs for the obligatory investment program at 14 billion rubles (with VAT) in 2012 and around 20 billion rubles in 2013.
The genco's installed capacity (including the merged OGK-6) comes to around 18 gWt. The genco includes Serov, Troitsk, Stavropol, Pskov, Ryazan, Novocherkassk, Kirishsky, and Cherepovets State District Power Plants (GRES), as well as Krasnoyarsk GRES-2 and Surgut GRES-1.
Gazprom Group owns 57.6% in OGk-2 while OJSC Inter RAO UES holds 5.7%.
