24 Sep 2009 19:11

Regulator registers results of RusHydro additional share issue

MOSCOW. Sept 24 (Interfax) - The Russian Federal Financial Markets Service (FFMS) has registered the results of an additional share issue by Russian hydrogenerating company RusHydro , the regulator said in a statement.

RusHydro placed 14.681 billion shares with par value of one ruble in a closed subscription. The placement amounted to 91.75% of the additional shares. The company earned 14.7 billion rubles from the placement as planned.

Shareholders used their preemptive rights to buy up 45% of the additional shares. The government, the company's majority shareholder, was unable to fully realize its preemptive right due to a reduction in the budget. The RusHydro board of directors, however, decided in absentia on July 1 that a part of the shares not placed using preemptive rights could be acquired via its subsidiary, OJSC Hydroinvest.

The FFMS registered an additional issue of 16 billion RusHydro shares with par value of one ruble on May 14. The shares were to be paid for in cash or with property.

RusHydro unites more than 25 gigawatts of hydrogenerating capacity and is controlled by the government (61.93%).