OREANDA-NEWS. UES’s board has announced the preliminary percentages of additional share issues for TGK-6: 45.4% of pre-money or 31.2% of post-money equity, the research department of Alfa Bank informs. The simultaneous sale of the government’s stake (34.1% of pre-money equity) with additional shares was also approved. The total investment necessary for the investment projects of TGK-6 is estimated at around R14.2 bln ($570 mln). Funds to be raised through the sale of the government stake will be used for the Federal Grid Company’s investment program.

The board has also approved the additional share issue of TGK-11: 35.2% of pre-money or 26% of post-money equity with the simultaneous sale of the
government stake (28.9% of pre-money equity). TGK-11 is expected to raise around R8 bln ($323 mln) for the investment program. The placement is set to
take place in 2008, while the issue will be prepared under a dual track scheme.