Tashkent, Uzbekistan (UzDaily.com) -- Uzum Bank JSC issued additional shares worth 150 billion soums. The bank registered the emission on 14 March 2024.

According to the decision of the Bank’s shareholders from 7 February 2024, the issued common shares are intended to be placed with Continent Arm Investments LLC at a par value of 1,000 soums per share. The shares will be placed by private subscription.

The sole founder of Continent Arm Investments LLC, founded in 2018, is Uzum Holding Ltd (UAE), created in 2022.

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”.

Currently, the authorized capital of Uzum Bank is 200 billion soums.