IDGC Holding acquires 45.8% of Kubanenergo share issue
KRASNODAR. April 3 (Interfax) - IDGC Holding on Monday acquired 44.62 million common shares in Kubanenergo , the holding said in a press release.
IDGC Holding paid 4.61 billion rubles for the shares.
As reported, Kubanenergo began placement of an additional share issue through open subscription on March 21 2012. The regional energy company issued 97.48 million shares with par value of 100 rubles. The placement price was 103.44 rubles per share. Thus, IDGC acquired 45.8% of the company's additional share issue.
Kubanenergo shareholders approved an additional share issue at the end of 2011. The aim is to raise funds for construction, reconstruction and equipment of facilities, including for the development of Sochi as a mountain climate resort and for the operation of facilities in the 2014 Winter Olympics.
Charter capital is 9.75 billion rubles, split into 97.46 million common shares with par value of 100 rubles. After the additional issue, charter capital could double to 19.49 billion rubles.
Kubanenergo is part of IDGC Holding. It includes 11 electricity grid companies (Krasnodar, Sochi, Armavir, Adygea, Timashevsk, Tikhoretsk, Leningrad, Slavyansk, South-West, Labinsk and Ust-Labinsk).