Charter capitals of only 619 joint stock companies meet requirements of legislation
08/07/2010 13:04
Charter capitals of only 619 joint stock companies meet requirements of legislation
08/07/2010 13:04
Tashkent, Uzbekistan (UzDaily.com) -- Only 41.94% of joint stock companies of Uzbekistan implemented requirements of legislation on minimal size of charter capital at the end of the first half of 2010, the Central Securities Depository of Uzbekistan said.
President of Uzbekistan Islam Karimov signed a decree “On measures on further improving financial sustainability of enterprises of real sector of economy” on 18 November 2010. The document set minimal size of charter capital for newly created joint stock companies at the size of US$400,000 from 1 January 2009.
The decree added that existing joint stock companies should raise their charter capitals to US$400,000 by 1 January 2010 or reorganize enterprise to private form of ownership.
The depository said 619 joint stock companies out of total 1,476 registered at the Central Depository meet requirements of the decree. Their total volume of authorized capital makes up 6.059 trillion soums.
According to the Depository, some 77 companies with total sum of equity capital of 30.5 billion soums have chance to increase their charter capital to the size, envisaged in the document.
The Depository said about 780 joint stock companies with total volume of charter capitals for 54.4 billion soums probably cannot meet requirements of the decree.
As of 1 June 2010, the Central Depository registered shares of 1,476 joint stock companies. Total volume of securities made up 5.969 billion and their volume in money terms – 6.144 billion soums.
The depository said that the number of registered joint stock companies decreased by 143 compared to the beginning of 2010 (1,619 joint stock companies, 4.824 billion shares with volume of 5.805 trillion soums), number of registered shares rose by 1.145 billion and their monetary volume by 339 billion soums.
Along with the shares, the depository registered 9.4 million bonds for 176.4 billion soums, which was emitted by 24 issuers in the reporting period compared to 9.2 milion bonds for 30.4 billion soums, issued by 18 issuers at the beginning of 2010.
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