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Finance 30/10/2008 Uzpromstroybank to float shares for 65bn soums
Uzpromstroybank
Uzpromstroybank, one of the three largest banks of Uzbekistan, will issue new emission of shares worth 65.4 million soums to increase charter capital by 2.9 times.

The charter capital of the bank will reach 100 billion soums after the placement of the new emission.

According to emission, Uzpromstroybank will place 32.7 million ordinary stocks with par value of 2,000 soums each.

Majority of shares will be acquired by Finance Ministry of Uzbekistan and Uzbekistan Reconstruction and Development Fund. They will buy stocks for 35 billion soums and 26 billion soums respectively. Finance Ministry will hold 35% shares in the bank, while the Fund will possess 26% stocks of Uzpromstroybank.

The bank will place 2.2 million shares trough stock markets. Current, shareholders will also have right to purchase these shares.

Uzpromstroybank started its activity in 1922 as Central Asian branch of Industrial bank Prombank. The bank was re-organized into Uzpromstroybank Joint-stock commercial and industrial-construction bank. Uzbek international bank “Uzprivatbank” was unified in the form of amalgamation to Uzpromstroybank in 2006.

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