Freedom Finance sums up subscription campaign for shares of JSC “Kokand Mechanical Plant”
Tashkent, Uzbekistan (UzDaily.com) -- Public offer of SPO shares of Kokand Mechanical Plant JSC was an important step in the development of the stock market of Uzbekistan.
As part of the secondary public offering (SPO), it was planned to sell 2.2 million shares of Kokand Mechanical Plant JSC. According to the Toshkent Stock Exchange, 2,843 applications were received for a total of 2,821,065 shares, which exceeded the amount of securities offered for subscription by 26.14%. The amount of funds raised amounted to 2.93 billion soums.
The secondary public offer was held in the form of an auction at prices proposed by investors, taking into account the priority of the highest price. The maximum bid price reached 4000 soums, at this price one offer was received for 10 shares. Most subscribers (77.4%) submitted bids in the range from 1,000 to 1050 soums per share.
The official partner of the exchange, IP LLC Freedom Finance, attracted 2,321 applications for 2,226,672 shares. The volume of funds raised through IE LLC “Freedom Finance” amounted to 2.34 billion soums.