OREANDA-NEWS. December 9, 2009. MRSK Holding mulls an additional share issue worth 78% of charter capital. State-owned distribution and grid MRSK Holding plans to amend the charter to issue 33.56 bn shares, which accounts for nearly 78% of the current charter capital. The holding’s shareholders at a December 28 EGM will decide on the number of shares to be issued and make any necessary amendments to the charter.

The holding’s CEO Nikolai Shvets earlier said that in 2010 the company intends to hold an additional share issue worth RUB 8.3 bn, of which RUB 4.3 bn will be provided by the state as payment for grid infrastructure for the Sochi Olympic Games. According to Mr. Shvets, the main condition of an additional stock offering is the need for the state to retain control over the company.

State control over MRSK Holding, which runs Russia’s regional power grids, is to be retained by YE 2011. At present, Russia owns a 53% stake in the holding with Gazprom being the largest minority shareholder with more than a 10% stake.