NEG's authorized capital increased by 236 million KGS, and the Ministry of Finance's stake approached 40%

The Kyrgyz National Electric Grid (NEG) increased its authorized capital by 236.07 million KGS. The transaction took place on the Kyrgyz Stock Exchange on June 23 and was the largest of the day on the market.

As part of the additional issuance, 142,647,978 common registered shares were placed at a price of 1.65 KGS per share. The sole buyer was the Ministry of Finance, which purchased the entire additional issue for 236.1 million KGS.

The additional issuance was approved by NEG's shareholders at the annual general meeting on May 25, 2026. The proceeds will be used to increase the company’s authorized capital.

According to NEG's financial statements for the first quarter of 2026, the company’s share capital stood at 80.825 billion KGS before the additional issuance. Following the placement of the shares, it increased to approximately 81.061 billion KGS.

As of the end of the first quarter of this year, the Ministry of Energy was NEG's largest shareholder, holding 29.17 billion shares, or 59.72% of the company’s capital. The Ministry of Finance held 19.37 billion shares, or 39.67% of the capital.

Following the acquisition of an additional 142.65 million shares, the Ministry of Finance’s stake increased to approximately 19.52 billion shares, and its share of the company’s capital will rise to 39.8%. The Ministry of Energy’s stake remained unchanged in absolute terms but decreased slightly due to the increase in the total number of shares.

The 236 million KGS placement marked a stage in a large-scale recapitalization of NEG. Previously, shareholders also approved additional share issuances in favor of the Ministry of Finance totaling 2 billion KGS, 1.374 billion KGS, as well as 100 million KGS in 2026 and 45 million KGS in 2027.

If all approved issuances are fully placed, the state, through the Ministry of Finance, will allocate over 3.75 billion KGS to increase NEG's authorized capital.