The bank plans to issue 60,000 shares with par value 500,000 soums each. Newly issues shares will be placed on closed subscription among the bank’s shareholders.

Halk Bank said Ministry of Finance of Uzbekistan will acquire 30,600 shares (51%) with total value of 15.3 billion soums, while Central Bank of Uzbekistan will buy 29,400 shares (49%) with total value of 14.7 billion soums.

The bank noted that the shares will be placed within 12 months starting from the state registration of new emission of shares. Standard & Poor’s Rating Services (S&P) assigned its ’B/B’ long and short-term counterparty credit ratings to Halk Bank. The outlook is stable.