The launch of the subscription campaign for the initial public offer of shares (IPO) of Jizzakh Plastmassa
Tashkent, Uzbekistan (UzDaily.com) - On 12 December, at the official launch ceremony of the subscription campaign, a collection of investors' applications for the purchase of shares of the leading producer of plastic products of the Republic of Uzbekistan Jizzakh Plastmassa was announced. Funds from the implementation of the additional issue of shares will be used to further expand the production of the enterprise itself.
The ceremony of the official launch of the subscription campaign for the initial public offer of shares (IPO) of Jizzakh Plastmassa JSC on 12 December in the City Palace Hotel in the Grand Ball Room on the topic “IPO from the largest producer of plastic products” took place.
In accordance with a number of government decisions, measures were approved to attract domestic and foreign investors through an initial public offering of Jizzakh Plastmassa (IPO) shares with the issue of additional shares.
Jizzakh Plastmassa is an industrial complex with a total area of 12.5 hectares. Four main workshops operate on the territory, the production capacities of which are used in the manufacture of products, and eight joint ventures created jointly with foreign investors from the USA, Turkey, Slovakia, Russia and Italy.
During the IPO, the underwriter organizes the Road Show in all regions of the republic, which will be held online. New shareholders will be able to participate and invest in one of the leading manufacturers of plastic products. Anyone can enter into a contract with a brokerage company and become a co-owner of the production of polyethylene pipes, plastic film and other plastic products.
As part of the IPO of Jizzakh Plastmassa, 1,140,246 shares will be sold among local and foreign investors. One person can purchase up to 11,402 shares, which is 1% of the supply. Both foreign investors and our compatriots: individuals and legal entities can participate in the project. The price range is determined in the range from 3,400 to 30,541 soums per share.
During the ceremony, it was announced that according to the dividend policy of the company, at least 30% of the net profit goes to pay dividends, while at least 50% of the annual net profit has been paid dividends over the past four years.
In accordance with government decisions over the past five years, Jizzakh Plastic has implemented investment projects to modernize production with a total value of 2.2 million US dollars and expanded the range of products, which made it possible to achieve production capacity of up to 10 thousand tons of finished products per year, including watering kits rationally used in agriculture.
In addition, in the future, large-scale projects for the development of the chemical industry of the republic are envisaged. Regarding the activities of Jizzakh Plastmassa JSC, the organization of production of BOPP films in the free economic zone Jizzakh for US$40 million is envisaged.