Uzkabel emits new shares for 344.175m soums
15/12/2009 00:32
Uzkabel emits new shares for 344.175m soums
15/12/2009 00:32
Tashkent, Uzbekistan (UzDaily.com) -- Uzkabel JV registered emission of shares in November and the company will issue 229,450 ordinary shares.
The par value of a share is 1,500 soums and total emission on par value is 344.175 million soums, the company said.
The shares will be placed on closed subscription among shareholders of the venture, registered in the registrar as of 8 October 2009. The company plans to place all shares by 15 December 2009.
Uzkabel is the largest producer of cable and wire products in Central Asia. The charter capital of the venture is 344.175 million soums. UAE’s Adel al Hussan General Trading Co. holds 63.96% stake and Zeromax GmbH (Switzerland) - 14.75%.
Uzkabel’s capacity is 50,000 tonnes of copper rod wire, trolley wire - 9,800 tonnes, telephone cable - 15,000 km, and logging cable for oil industry - 8,300 km.
Almalyk Mining and Metallurgy Combine is main supplier of copper to Uzkabel. The company increased export by 24.8% in 2008 to US$38.95 million.
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