State telco Uzbektelecom to list common shares on Tashkent Stock Exchange

By Muzaffar Ismailov in Tashkent October 25, 2023

State-owned telecom operator Uzbektelecom is to list common shares on the local stock exchange.

The telco is to issue 5.54mn shares worth an estimated $527,784, according to a decision approved by the sole shareholder on September 29, but only published this week.

Uzbektelecom plans to place shares by open subscription at a nominal price of UZS 1,154 ($0.09).

Currently, only preferred securities of Uzbektelecom are traded on the Tashkent Stock Exchange (TSE).

The underwriter for the placement will be Portfolio Investments.

The issue must obtain the approval of the national agency for advanced projects.

The telecom operator is one of 40 state enterprises that are to sell shares to the public under the government's "People's IPO" campaign.

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