The authorized capital of “Russian grids” will be increased, the share of gosuchastiem will be at least 85.3% of

MOSCOW, October 9. The President of Russia Vladimir Putin signed a decree “On the development of public joint stock company “Russian grids”.

According to the document, published on the official portal of legal information, the President has allowed “the process of increasing the authorized capital of public joint stock company “Russian grids” by issuing additional shares, ensuring the participation of the Russian Federation in the authorized capital of the company in an amount not less than 85,31%”.

The Cabinet is charged in an eight-month period to ensure the carrying out of those activities. Also, according to the decree, “Russian grids” included in the list of strategic enterprises and joint stock companies.

As previously reported, the shareholders of “Russian grids” at an extraordinary meeting on 6 October approved the additional issue of 42.8 billion rubles. According to the decision, the Charter capital will be increased by placing additional shares in the amount of 42 796 991 468 units with a nominal value of 1 rouble each. It was reported that this is only the first stage of the additional issue of “Russian grids”.

The total volume of the additional issue of “Russian grids” can be more than 64 billion rubles.

“Russian grids” (rosseti, until March 2013 – “IDGC holding”) unites 90% of distribution and more than 70% of electric grid assets of the state, is in the management of 43 subsidiary and dependent companies, including Federal grid company (FGC UES) and 11 interregional companies.