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OGK-2 Reports Share Price

Power producer OGK-2 said Friday that it would carry out a share placement at 0.45 rubles ($1.5) per share to meet investment commitments.

The company did not say how many shares it planned to issue or how much it aimed to raise in total.

In May, OGK-2 said it needed to raise $1.3 billion in a share issue due to limited financial resources and substantial investment obligations.

Russian power generators are under pressure from the government to invest in infrastructure in order to help prevent blackouts and accidents.

(Reuters)

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