Today, March 18, on the Kyrgyz Stock Exchange (KSE) was held the offering of shares of the state-owned company National Electricity Network of Kyrgyzstan OJSC (NENK).

Within the deal 6 billion 42 million 639.2 thousand common shares were sold at the price of 1.65491 KGS per paper. The total amount of the placement exceeded 10 billion KGS.

The placement of shares was a continuation of the strategy to increase the company's authorized capital. The decision on additional issue of shares was made at the general extraordinary meeting of shareholders on December 18 last year. Then it was approved to increase the number of circulating shares through additional issue and private placement.

Within the framework of the 8th issue 6 billion 42 million 639 thousand 173 shares for the amount of 10 billion KGS were placed. This is part of a larger program to raise funds. The total amount of the four planned issues is 37.06 billion KGS. All additional shares are purchased by the Ministry of Finance. After all placements, the authorized capital of the company will increase to 72.93 billion KGS.

It should be noted that on December 25 last year the Ministry of Finance increased its stake in NESK from 33.33% to 34.26%.