Uzbek Govn’t adopts decision to organize IPOs

Tashkent, Uzbekistan (UzDaily.com) -- On 10 May, the Government of Uzbekistan adopted a resolution “On organization of public offering of shares on the stock exchange”.

The document was adopted in order to introduce international practices for realization of state-owned objects and attract population to the stock market.

The resolution said that some joint companies will sold their shares via primary (IPO) and secondary (SPO) public offerings. Quartz, Shahrisabz wine-arok and Qoqon mechanic zavodi will place their shares in the market.

National Bank of Uzbekistan for Foreign Economic Activity and Asaka will organize the placement. The above-mention companies will place at least 10% of shares from their charter capital.

State Competition Committee said that it will initiative public offering of shares of Shahrisabz wine-arok.

The document said that single person cannot buy more that 0.05% of placed shares of these enterprises. The shares will be realized on the highest prices, offered by investors.

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