Tashkent, Uzbekistan (UzDaily.com) -- A shareholder of TBC Bank made a decision to increase the authorized capital of the bank through the placement of additional ordinary shares by 174.21 billion soums.

The bank will issue 174,215,126 shares with a par value of 1,000 soums each. The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation will acquire shares (87 107 563 shares each).

The shares will be purchased at a price of 1149.27 soums each. As a result, the total volume of the issue will be 200.22 billion soums.

At the end of September 2021, it was announced that the EBRD and the IFC plan to acquire a 20% stake in TBC Bank. The first installment will be US$9.4 million for each of the two investors with the intention to support further capital increases during 2022-2024.