Ipoteka (Mortgage) Bank started floatation of the third emission of shares for 15 billion soums, which will increase its capital by 2.4 times to 26 billion soums.

The bank said the emission consists of 15 million shares with the face value of 1,000 soums, including 14.5 million ordinary shares and 0.5 million preferential shares.

The decision to increase the capital through additional stock float was made at the annual shareholders meeting in May of this year. The placement will be carried out through open registration and sale through the Tashkent Stock Exchange.

The bank’s capital currently constitutes 11 billion soums. The number of the bank’s shareholders exceeds 15,800 individuals and corporate entities. The bank’s assets grew by 27% in the first half of this year to 562.6 billion soums.