7 Feb 2011 12:16

FGC places 79.14% of supplementary issue, raises 11.193 bln rubles

MOSCOW. Feb 7 (Interfax) - Federal Grid Company (FGC) has placed 79.14% of a supplementary issue.

The company sold 22.390 billion shares, raising 11.193 billion rubles, of which the state accounted for 11.189 billion rubles.

Minority shareholders bought the rest - 4.147 million rubles' worth.

The supplementary issue consists of 28.289 trillion 0.5-ruble shares or a total of 14.144 billion rubles.

The proceeds from the placement will go to build grid facilities associated with the 2014 Winter Olympics in Sochi and to implement federal targeted programs in the Far East and Trans-Baikal to 2013.

FGC charter capital consists of 1.234 trillion 0.5-ruble shares, which will rise to 1.256 trillion once the latest placement is registered.

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