22
October
2007
IFC METROPOL and JP Morgan acted as financial advisers on placing of shares of additional issue of Open Joint Stock Company «YuGK TGK-8 »
On 18th of October 2007 preliminary results of placing of
additional issue and sale of government’s shares in YuGK TGK-8 were
summed up.
On 18th of October 2007 the Board of Directors of Open Joint Stock
Company “Southern generating company TGK-8” (YuGK TGK-8) on the
basis of analysis of investors’ applications set a price for
placing of one additional share 0.035 rbl. and volume of placing of
additional shares in the amount of 685 714 285 715 pieces (about 33
% of the authorised capital of the company after placing), and
commission on sale of the government’s shares set a price of shares
of YuGK TGK-8 (0.035 rbl. as well) held by RAO UES of Russia and
being a share of the government in the amount of 492 756 605 505
pieces.
Two applications of one investor - company Gatecraft Ltd. -
were subjected to consideration of the Board of Directors of YuGK
TGK-8 and in the commission on sale of the government’s shares. In
the first application there was a proposal of repurchase of the
whole volume of additional issue with the deduction of those shares
which will be purchased by shareholders of YuGK TGK-8 within the
framework of exercising of the pre-emptive right by them, and in
the second application there was holding of shares from the
"government’s" share, at one price - 0,035 roubles per share. The
Board of Directors and the commission on sale of the government’s
shares made the decision on fulfilling of the specified
applications.
As a result of placing of additional issue of shares YuGK TGK-8
will raise 24 billion roubles or $963 million. The volume of
transaction on sale of the government’s shares of YuGK TGK-8 is
estimated at 17 billion roubles or more than $682 million. Thus,
the cumulative volume of the raised funds within the framework of
placing of additional issue and sales of shares of YuGK TGK-8 from
the "government’s" share will exceed 41 billion roubles or more
than $1,7 billion.
Financial advisers of YuGK TGK-8 on placing of additional issue of
shares of YuGK TGK-8 are companies JPMorgan plc and IFC METROPOL.
IFC METROPOL is also a financial adviser of RAO UES of Russia on
sale of shares of YuGK TGK-8 accounting for the "government’s"
share.
Reference
YuGK TGK-8 was registered in Astrakhan on 22nd of March, 2005. The
total installed capacity of stations of the company - 3602 MW as
for electric-power generation and 13336 Gcal/h as for heat power
generation. In August, 2006 shares of YuGK TGK-8 were allowed
for circulation on Close Joint Stock Company “FB MMVB”, Open Joint
Stock Company “FB RTS”, NP “FB RTS”. On 28th and 29th of
December, 2006 the Boards of Directors of “FB MMVB” and Open Joint
Stock Company “RTS” accordingly made decisions on inclusion of
ordinary shares of YuGK TGK-8 in quotation list “B”.
