Russian energy giant JSC RusHydro has announced the company’s shares will be include in the list of tradable securities on the Saint Petersburg Stock Exchange.
The ordinary shares with a par value of one ruble per share were admitted to trading without inclusion to quotation lists, the company (LSE: HYDR) said, with trading to begin June 9.
HydroWorld.com reported in May that Russian Federation Vladimir Putin had signed a decree allowing JSC RusHydro to issue additional shares, providing the government’s ownership in the share capital of the company does not fall below 60.5%.
Currently, the Russian Federation holds 66.837% of RusHydro’s interests, while the rest is held by institutional and individual shareholders.
Capital raised by the stock issuance will be used to finance construction of the 237.7-MW Verkhne-Narynskie and rehabilitation of the 340-MW Perepadyne hydroelectric power cascade projects.
HydroWorld.com also reported recently that RusHydro had commissioned two newly rehabilitated turbines at its Sayano-Shushenskaya hydropower plant.
The company also recently announced a deal with Atlantis Operations Ltd. to develop marine energy projects in Australia.