July 21. At a meeting held in absentia on July 16, RusHydro BoD approved the floatation of its additional share issue for a total of RUB 8.68 bn in favor of the state, the company said in its report. RusHydro will float 4.3 bn shares at RUB 2.02 per share. The placement will be wrapped up either on January 12, 2009, or when the issue is completely paid-up. The decision to float the company's additional issue was taken by RusHydro AGM on June 25. The placement aims at financing the genco's investment program. As was reported, RusHydro expects to receive RUB 12.6 bn from the state budget in 2007-2009. In 2007, the company received RUB 5 bn. By law, the state share package in RusHydro should exceed 50%. RusHydro said earlier that the state would receive 60% of the company's capital after the formation of the target structure.