The Cabinet of Ministers of the Russian Federation ordered to increase the authorized capital of Russian Railways (RZD) by 10 billion rubles through an additional placement of preferred shares of the company.
According to the document published on the official Internet portal of legal information, each share will cost 1000 rubles, and 10 million rubles will be issued, respectively.
The press service of the joint-stock company first announced on March 28 that the government was preparing the corresponding order.
The materials emphasized that the funds would be allocated from the National Wealth Fund, and the share price was the usual one for the closed subscription placement to receive funds from the NWF.
The additional funds will be allocated to the “development of the railway infrastructure of the central transport axis”, as indicated in the explanatory note of the documents.
In total, it is planned to allocate more than 47 billion rubles for these purposes in 2023.
“Annual dividends in 2022-2024 for a pref are determined on the project in the amount of 0.01% of the face value, from 2025 – 2.98%,” the Russian Railways press service reports.
Earlier, the Cabinet of Ministers increased the authorized capital of Russian Railways by almost 22 billion rubles in August 2022, Vedomosti recalls.
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