Kyrgyzstan's National Energy Company may receive an additional 1.8 billion KGS in capital

Kyrgyzstan’s National Electric Grid has submitted several proposals to its annual shareholders’ meeting regarding an increase in authorized capital. The total amount is 1.8 billion KGS.

According to the agenda for the meeting scheduled for May 26, shareholders are set to consider capital increases on several grounds. The largest item concerns an increase in authorized capital by 1.374 billion KGS in accordance with a draft presidential decree.

In addition, the agenda includes a capital increase of another 236.1 million KGS, as well as additional capitalizations of 100 million KGS in 2026 and 45 million KGS in 2027.

Thus, based solely on the amounts explicitly stated, the planned capital increase totals 1.8 billion KGS, excluding a separate item related to an additional capital increase under the Cabinet of Ministers’ resolution on the financial rehabilitation of energy companies, for which the amount is not disclosed separately.

At the same time, shareholders are being asked to revoke two previous resolutions of the extraordinary meeting held on October 24, 2025, regarding increases in the authorized capital of 236 million KGS and 145 million KGS, effectively replacing them with new terms for the share issuance.

In addition to recapitalization issues, shareholders will review the annual financial statements, the 2026 budget, the selection of an independent auditor, changes in corporate governance, and the reduction of the board of directors from five to three members.