UZCARD privatization process starts in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- The process of privatization of the Unified Republican Processing Center LLC (UZCARD) has begun in Uzbekistan.

The state tender commission decided to sell 75% of the state stake in the company with the involvement of an independent appraisal organization.

At the same time, other UZCARD holders can take advantage of the preemptive right to purchase.

In the event that other members of the company do not use their pre-emptive right to purchase, measures will be taken to sell this state share through a public sale in the prescribed manner and additional information will be announced.

Previously, a controlling stake in UZCARD belonged to the state represented by the National Bank for Foreign Economic Affairs (51%), and 4 more banks (6% each) - Uzpromstroybank, Asaka Bank, Ipoteka Bank and Aloqabank. Later, their shares were transferred to the State Assets Management Agency.