OGK-3 May Sell New Shares

By The Moscow Times

Aug. 19, 2010

OGK-3 may sell new shares to finance part of its more than 100 billion ruble ($3.3 billion) investment program, first deputy chief executive Vladislav Nazin said, Interfax reported.

Nazin said net income in the past three years has covered the 15 billion rubles OGK-3 spent from investment funds to buy a stake in Rusia Petroleum, holder of the license to the Kovykta gas field in East Siberia, Interfax reported. Rusia filed for bankruptcy in June after TNK-BP, its largest shareholder, sought to call in loans.

(Bloomberg)

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