Uzbekistan to privatise stakes in two commercial banks

By bne IntelliNews November 25, 2015

Uzbekistan’s State Committee for Privatisation, Demonopolisation and Development of Competition will sell state-owned stakes in Turonbank and Alokabank on the Tashkent Stock Exchange.

The committee said it will auction a 63.1% in Turonbank with a starting prices of $29.9mn and a 47.6% stake in Alokabank with a starting price of $47.72mn.

In February 2015, the Uzbek government announced a massive privatisation campaign. According to the April government decision, Uzbekistan will sell state-owned stakes in 1,247 enterprises, including 512 enterprises that will be offered for free, if investors assume investment obligations.

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