DUSHANBE, May 19, 2011, Asia-Plus -- A general meeting of shareholders of joint-stock company (OJSC) NBO Roghun is scheduled for May 26, according to the Ministry of Finance (MoF).

The source at a MoF says the Agency for Development of Equity Market and Specialized Registrar is currently engaged in preparing a list of the shareholders.

“Special centers for registration of shareholders of OJSC NBO Roghun have been set up across the country and the shareholders may familiarize themselves with the meeting’s agenda at these centers,” the source said, noting that each shareholder has the right to participate in the general meeting.  For this, they just have to be registered with the mentioned centers.

The source, however, refrained from giving information about the number of shareholders of OJSC NBO Roghun, noting that “such information is a commercial secret and it may provided only to shareholders or to the meeting of shareholders.” 

In the meantime, the source at OJSC NBO Roghun told Asia-Plus on March 7 that a total number of shareholders is more than 2 million people.  Under the country’s law on joint-stock companies, each of shareholders has voting authority and may participate at general meetings of shareholders, he noted. 

We will recall that to raise funds to complete construction of the Roghun hydroelectric power plant (HPP) the government started to sell shares in Roghun to people on January 6, 2010.  Tajikistan has reportedly issued 6 billion somoni (US$1.37 billion) worth of Roghun shares.  They issued shares of different face values (100, 500 and 1,000 somoni) and the Certificates of Shares.  The face value of one certificate of shares is 5,000 somoni.

To-date, the sale of Roghun shares has earned the government 830 million somoni (equivalent to 188.5 million U.S. dollars).

Finance Minister Safarali Najmiddinov told reporters on January 24 that 22,000 people are holders of the Certificate of Shares and nearly 2 million people are holders of shares of the face values of 100, 500 and 1,000 somoni.

According to the Ministry of Finance, the government assumes the 75% ownership interest (4.5 billion somoni) in the company.