Official presentation of Roghun shares takes place on Friday


December 25, 2009, Payrav Chorshanbiyev



An official presentation of shares in the Roghun hydroelectric power plant (HPP) took place at the Ministry of Finance (MoF) today.


Speaking at the ceremony, Ms. Gulnora Hasanova, the deputy chairperson of Amonabonk (Tajikistan’s savings bank), noted that more than 580 outlets sub-divisions of Amonabonk across the country will be engaged in realization of the shares.


According to her, joint-stock company NBO (Nirugohi Barqi Obi meaning hydroelectric power plant) Roghun will carry out the stock floatation through Amonabonk’s agencies. 


 “Physical and legal entities of Tajikistan may acquire shares in Roghun and certificates of shares in cash or on account,” Hasanova noted.


On the term of securities circulation, she, in particular, stressed that each acquired share gives its holder voting authority on making a decision at a general meeting of shareholders.  “Only shares that are acquired not later than 30 days before an annual meeting of shareholders earn dividends,” the Amonatbonk deputy chairperson said, noting that volume of dividends and due date for dividends are determined at a special general meeting of shareholders.


According to Minister of Finance Safarali Najmiddinov, while acquiring shares and certificate of shares, physical and legal entities of Tajikistan also receive consignation receipt.


The minister noted that holder of shares in Roghun has the right to sell, present and transmit the shares.  “As far the mechanism of leaving share as a deposit for receiving loans from financial institutions is concerned, specialists from the Ministry of Finance, the National Bank of Tajikistan and the NBO Roghun are currently working out it,” Najmiddinov said.


He added that shares and certificates of shares for a total amount of 6 billion somoni (equivalent to some US$1.4 billion) had been issued in Tajikistan.  Special paper for issuing shares was purchased from Russia, the minister said.


Shares in the Roghun hydroelectric power plant (HPP) will be available fro trading on Tajikistan’s stock market on January 6, 2010.


As it had been reported earlier, the face value of one share is 100 somoni and they will issue the Certificates of Shares of different face values – in 500, 1000, 5000 and so on somoni


Enterprises and persons that will buy shares for more than 5,000 somoni will be given special inscribed Certificates of Shares.