Russian Railways issues new shares worth RUR 41.5 bln

On April 21, JSC Russian Railways (OAO RZD) placed an additional issue of 1000-rouble ordinary shares with a total value of 41.5 billion roubles, RZD-Partner reports. 

The shares were placed at their face value through a closed subscription in favour of the company’s sole shareholder – the state. The placement completion date was 21 April.

"The funds raised on the new shares will be used to build transport infrastructure as part of the preparations for the 2014 Olympics in Sochi," runs the press-release of OAO RZD.

RZD’s charter capital is currently 1,541,697,819,000 roubles. Once the issue is fully registered and amendments made to the company’s charter this will increase to 1,583,197,819,000 roubles. RZD’s sole shareholder is the Government of the Russian Federation.