Putin Green-Lights New Share Listing by Federal Grid Company

MOSCOW, November 3 (RIA Novosti) – Russian President Vladimir Putin on Sunday signed a decree to allow the country’s largest electricity transmission provider, the Federal Grid Company, to conduct an additional share offering, a company representative said.

The company is planning on listing more shares to finance infrastructure development in Sochi and the Far East, the representative told the Prime news agency, a RIA Novosti affiliate.

A representative late last month told the agency that the company was receiving up to 100 billion rubles ($3 billion) from the state’s National Welfare Fund, which has also allocated money recently for a raft of infrastructure projects, including the construction of a high-speed rail line between Moscow and Kazan.


Leave a comment