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Finance 26/12/2011 Halk Bank to place shares for 20bn soums
Halk Bank to place shares for 20bn soums
Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekistan will direct 20 billion soums to increasing charter capital of the State Commercial Halk Bank.

Halk Bank registered a prospectus of emission with the Center for coordination and control over functioning of securities market on 15 December 2011.

Within the emission, the bank will issue 40,000 ordinary shares with par value of 500,000 soums each. Total volume of the emission makes up 20 billion soums.

The shares of the emission will be placed on closed subscription. The bank said that the Ministry of Finance of Uzbekistan will purchase 20,400 shares for 10.2 billion soums (51% of the issue) and the Central Bank of Uzbekistan – 19,600 shares for 9.8 billion soums (49%).

In line with the prospectus of the emission, the announced charter capital of the bank makes up 200 billion soums, which consists of 400,000 ordinary shares with par value of 500,000 soums each. In line with accounting reports, the charter capital makes up US$160 billion soums.

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