The Federal property management Agency plans to issue “prefs” Transneft for financing the investment program

The Federal property management Agency plans to issue “prefs” Transneft for financing the investment program


MOSCOW, December 22. The Federal property management Agency plans to issue preference shares “Transneft” at 30-50 billion rubles for financing the investment program. About it has informed journalists the head of Department of property relations and privatization of major organizations Vitaly Sergeychuk.

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“The planned additional issue of preferred shares of Transneft, this will allow the company to raise additional funds, including to solve the problem according to the investment programme”, he said and explained that the size of funds he estimates will be approximately 30-50 billion rubles.

Legacy stressed that the government must first make to the company the portion of the assets that belong to Russia.

“The President’s decrees on introducing asset data submitted to the government, we hope that in the near future regulations will be taken. Over the next year will hold these corporate events and will have the opportunity to hold additional shares (“prefs”) Transneft”.

According to him, the decision on the additional issue will enable Russia to retain a 100% interest in the total amount of ordinary shares of Transneft, but the share in the authorized capital will be reduced to 75% plus one share.

“We now have 78 plus, 100% of the ordinary or one preference. Accordingly, placing additional preferred shares, we will remain 100% ordinary, but will sink to 75% of the Charter”, – he said.