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Finance 15/10/2014 Uzpromstroybank to place shares for 325.2 billion soums
Uzpromstroybank to place shares for 325.2 billion soums
Tashkent, Uzbekistan (UzDaily.com) -- Joint stock commercial bank “Uzbek industrial and construction bank” (Uzpromstroybank) registered an additional emission of shares for 325.2 billion soums.

The Center for coordination and development of securities market registered the prospectus of emission of the bank on 30 September 2014.

Within the emission, the bank will place 100 million ordinary shares with nominal value of 3,252 soums each. Total sum of the issue reaches 325.2 billion soums.

The shares of the emission will be placed on closed subscription in line with the presidential resolution “On additional measures on increasing charter capital of Open joint stock commercial bank “Uzbek industrial-construction bank” on 23 May 2014. The resolution said that the bank will increase its charter capital by US$152.2 million in 2014-2016.

According to the resolution, Fund for Reconstruction and Development of Uzbekistan (FRDU) will purchase shares for US$100 million. The funds will be used to co-finance priority investment projects in line with the governmental decisions.

The bank will also place shares for US$22.2 million among enterprises and organizations of Uzbekneftegaz (US$11.2 million), Uzbekenergo (US$5 million) and Uzkimyosanoat (US$2 million).

In 2014-2016, Uzpromstroybank will direct a part of its income for US$30 million to increase its charter capital.

Currently, the charter capital of Uzpromstroybank makes up over 371.957 billion soums, which consists of 112.378 million ordinary and 2 million preferential shares with par value of 3,252 soums.

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