NEG raised 32.9 million KGS on the stock exchange as part of a large-scale capital increase

On December 12, a transaction involving shares of OJSC National Electric Grid of Kyrgyzstan was conducted on the Kyrgyz Stock Exchange, as a result of which the company raised 32.9 million KGS.

This stock exchange transaction is part of a larger capital increase program previously approved by shareholders. On October 24, at an extraordinary general meeting (quorum — 99.79%), NEG shareholders decided to increase the authorized capital by more than 15 billion KGS. This will be the largest capital expansion of the company in recent years.

The main package of decisions includes:

• Additional issue of 9.29 billion shares in book-entry form;
• Total capital increase — 15.37 billion KGS;
• The issue will be carried out in two tranches of 4.6448 billion shares each;
• All shares will be placed privately in favor of the Ministry of Finance;
• Payment will be made in non-cash form from budget funds.

After the placement is completed, NEG's authorized capital will reach 88.89 billion KGS, and the number of shares in circulation will increase to 53.7 billion with a par value of 1.6549 KGS. Thus, the company's capitalization will increase by almost 21%.

In addition to the main issue of 15.37 billion KGS, the shareholders approved several additional placements:

• 119.7 million KGS;
• 32.9 million KGS (this issue was sold on the stock exchange on December 12);
• 236 million KGS;
• 50.1 million KGS;
• 145 million KGS.

All of them will be placed privately, also in favor of the Ministry of Finance.