BUSINESS

Nucleareelectrica increases capital, state to remain majority shareholder

Nuclearelectrica, one of the biggest state-owned companies, will increase its capital. The shareholders of the Nuclearelectrica electricity producer have decided to increase its registered capital by a sum of up to RON 239.1 M (approximately EUR 54 M). This is the first operation of its kind since the company was floated o the stock exchange (stock exchange symbol SNN) in the autumn of 2013. Thus, the company’s registered capital will surpass RON 3 bln.
The capital increase will be done through the issuance of a number of 23.9 million shares at a price of RON 10 per share, a value that is 22 per cent higher than the current RON 8.18 value of SNN shares on the Bucharest Stock Exchange.
The biggest part of the extra sum, namely RON 194.3 M or 81 per cent of the sum proposed, will represent the state’s contribution, the state being the company’s majority shareholder. The state thus wants for the budget allocations it did in 2006-2009 for the construction of Unit 2 and for the financing of three more units at the nuclear plant in Cernavoda to be reflected in the company’s capital.

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