Tashkent, Uzbekistan (UzDaily.com) —  Uzum Bank has announced plans to increase its authorized capital to 500 billion soums, according to a statement from the bank.

During an extraordinary shareholders’ meeting, a decision was made to issue 150 million common shares with a nominal value of 1,000 soums each.

According to the bank, the shares will be placed through a closed subscription among its founder, UB ASSETS HOLDING, which owns a 100% stake.

Currently, Uzum Bank’s authorized capital stands at 350 billion soums. The additional issuance of shares will enable the bank to meet the minimum authorized capital level set by the Central Bank for 2025, which is 500 billion soums.