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.

Related Articles

Dutch investment group acquires Georgia's third largest bank from local venture

Liberty Bank, the third largest lender in Georgia, announced on October 13 that a Netherlands-based company, the European Financial Group, has purchased 74.64% of its equity. No further details ... more

Ukrainian central bank bans Russian banknotes, coins depicting occupied territories

The National Bank of Ukraine (NBU) has forbidden local banks and the country's financial institutions to perform any cash transactions using the new banknotes and coins issued by the Russian central ... more

Erdogan says he plans talks with lenders on cutting Turkish interest rates

Turkey's President Recep Tayyip Erdogan said on October 13 that he plans to hold talks with both public and private lenders on how to lower interest rates. He did not say, however, when those ... more

Dismiss