Nuclearelectrica’s general shareholders assembly decided in October last year to raise the company’s share capital by RON239 million.
At the end of January, the Romanian state owned 81.27% in Nuclearlectrica, while the rest was held by private investors: 14.6% legal entities and 4.1% individual investors.
Investment fund Fondul Proprietatea (FP.RO) is the largest private shareholder, with 9.7% at the end of September.
Following the capital raise, the state’s stake rises to 82.48%, according to company reports sent to the Bucharest Stock Exchange Wednesday.
Nuclearelectrica’s capital will grow from RON2.817 billion to RON3.01 billion. The hike entailed the issuance of 23.9 million shares with face value of RON10. The Romanian state got 19.4 million shares for the financing it allotted in 2006-2009.
Up to 4.479 million new shares were offered for subscription between January 5 and February 4. Only 11 minority holders subscribed a total of 615 shares, of RON6,150. Unsubscribed shares will be annulled.
Fondul Proprietatea challenged the capital hike decision in court but its request to suspend the decision was overruled.
Nuclearelectrica operates Romania’s sole nuclear power plant, which covers about a fifth of the country’s electricity needs.