OREANDA-NEWS. December 22, 2010.  The FFMS has suspended the additional issue of common shares at Moscow Heat Distribution Company (MTK). The company is now holding a closed-subscription additional issue to the benefit of its primary shareholder, the Moscow City Government, which aims to consolidate heat-producing and distributing assets of the Moscow region.

In late November, MTK reported it had already floated 94.35% of the additional issue worth more than RUB 8.25 bn, or slightly more than 11 bn shares at RUB 0.75 each. The total additional issue size is 11.7 bn shares with a RUB 0.30 par value. If the issue would have been fully subscribed, the company would have seen its share capital soar by 41%.

The buyer paid for the shares with heat networks, heat inlets, located in both Moscow and Moscow Region, and other heat utility facilities, including premises of pump stations and related equipment.