The authorized capital of the Open Join-Stock Company (OJSC) NBO Roghun reportedly rose 3.56 billion somoni in a year to June 30, 2019, reaching 27.76 billion somoni (equivalent to some 3 billion U.S. dollars).
Compared to 2014, the company’s authorized capital increased by 13.76 billion somoni. As of June 2014, OJSC NBO Roghun’s authorized capital amounted to 14 billion somoni.
According to information posted on the company’s website, the annual meeting of OJSC NBO Roghun shareholders that took place in Dushanbe on June 21 made a decision to increase the company’s authorized capital through issuing additional shares.
In total, the company plans to issue 35.6 million simple shares of the face value of 100 somoni.
The meeting also endorsed Kreston AC to conduct audit at the company this year and Kreston AC will be paid 349.78 million somoni for its work.
Besides, the meeting participants elected new members of the Supervisory Board that will be presided over by Prime Minister Qohir Rasoulzoda.
They also elected new members of the Auditing Commission and the Accounts Commission of OJSC NBO Roghun.
The previous meeting OJSC NBO Roghun shareholders took place in Dushanbe on June 15, 2018.
The first annual meeting of the shareholders of OJSC NBO Roghun was held on May 25, 2011.
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.
22,000 people are reportedly holders of the Certificates of Shares (the face value of one Certificate of Shares is 5,000 somoni) and nearly 2 million people are holders of shares of the face values of 100, 500 and 1,000 somoni.
