Tashkent, Uzbekistan (UzDaily.com) -- AVO Bank Joint Stock Company will place common shares worth 185.74 billion soums.

The bank’s shareholders decided to issue 9.28 billion common shares with a par value of 20 soums each. The total amount of the issue will be 185.74 billion soums.

As a result, the authorized capital of AVO Bank will increase to almost 600 billion soums.

From 1 April 2024, the minimum authorized capital of banks should be 350 billion soums, based on the amendments made in April 2023 to the Law of the Republic of Uzbekistan “On Banks and Banking Activities”.