Tashkent, Uzbekistan (UzDaily.com) — JSC KAFIL-SUG‘URTA will increase its charter capital from 60.701 billion soums to 80.701 billion soums, according to data from the Unified Corporate Information Portal.

The insurance company will issue 20 million additional registered ordinary non-documentary shares with a nominal value of 1,000 soums each. The total value of the issuance will amount to UZS 20 billion.

The shares will be placed through a private subscription to the sole shareholder — LLC KICHIK SANOAT MARKAZI. The placement is planned to be completed within 365 days from the date of state registration of the issuance.

The placement price will be 1,000 soums per share, with payment made exclusively in the national currency via non-cash settlement. No preemptive rights for acquiring the shares will be granted, and no underwriters will be engaged.

The placement will be carried out on the over-the-counter market through direct transactions. If less than 60% of the issuance is placed, the offering will be deemed invalid, and the invested funds will be returned to the investor.