Rosseti to ask govt to issue additional shares, sell to investors

MOSCOW, Dec 4 (PRIME) -- Russian state power grid holding Rosseti wants the government to approve a share issue to raise liquidity of the company, Rosseti CEO Pavel Livinsky told reporters on Tuesday.

“We think that it would be a right step (to issue additional shares). This is for the government to decide. People will come and offer the best conditions. We are happy to see anyone who believes in our development and who is ready to invest money,” he said without specifying the terms of the issue.

The company thinks that it would be reasonable to issue shares, and that the company may issue them without the government losing control. “We think that as a publicly-traded company, our point of view is that the government’s stake may be reduced without any damage for the state…Of course, we will suggest this decision to the government from our standpoint,” he said.

The Federal State Property Management Agency owns an 88.04% stake in Rosseti.

End