The Center for coordinating and controlling for functioning of securities market under the State Property Committee of Uzbekistan registered the emission of shares on 6 September 2011. The emission is aimed at forming the charter capital.

According to the prospectus, the company will place 1 million ordinary shares with nominal value of 139,837 soums each. Total sum of the emission is 139.837 billion soums.

The shares of the emission will be placed on closed subscription among shareholders on nominal value.

In line with the document, Uzavtosanoat JSC acquired 480,000 ordinary shares on par value for 67.121 billion soums (US$48 million on the Central Bank rate, set on the registration date). The company paid shares with cash.

General Motors Holdings, LLC paid 249,999 shares for 34.959 billion soums (US$25 million) through providing intangible assets, providing right to produce engines in Uzbekistan and realize them in internal market and abroad.

The US firm also bought for cash 270,000 ordinary shares for 37.756 billion soums (US$27 million).

General Motors International Holdings, Inc purchased one share on par value for 139,837 soums (US$100).

General Motors and Uzavtosanoat created a joint venture on production of automobile engines in the end of 2008. General Motors holds 52% stake in GM Powertrain Uzbekistan.

The project cost is US$521.8 million. General Motors Powertrain Uzbekistan will produce BDONC engine with the volume of 1.2 liters (82 horsepower) and 1.5 liters (115 horsepower).

The enterprise produced the first engines in test mode in the end of August 2011. It is expected that the venture will start serial production of engines in November 2011.