DUSHANBE, November 19, 2012, Asia-Plus — OJSC NBO Roghun has decided to stop selling shares in Roghun.
An official source at the Ministry of Finance (MoF) says no one Roghun share has been sold this year.
“After inventory of Roghun shares in eight banks of the country, the management of OJSC NBO Roghun has made a decision to stop selling shares in Roghun,” the source said.
He refrained from giving reasons for that decision. “May be it is connected with recession of demand for the shares among the population,” the source noted.
“If the next general meeting of shareholders of OJSC NBO Roghun makes a decision to continue selling the shares, the sale of Roghun shares will be resumed,” the source said.
According to him, the sale of Roghun shares has earned the government 804.7 million somoni.
We will recall that Tajikistan founded OJSC NBO Roghun with an authorized capital of 116 million somoni for completing the construction of the Roghun station in April 2008 after it formally revoked a contract with Russia”s RusAl aluminum company for the construction of the Roghun HPP in August 2007. The Tajik government accused the Russian company of failing to fulfill the contract signed in 2004. Tajik authorities and RusAl became bogged down in the hydroelectric plant”s dam model and height, crucial factors in its capacity.
To raise funds to complete construction of the Roghun HPP the government started to sell shares in Roghun to people on January 6, 2010. Tajikistan has reportedly issued 6 billion somoni worth of Roghun shares.
