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.
Related Articles
Unusually intense heatwave hit Central Asia in March, may impact crop yields
Central Asia experienced an unusually intense heatwave in March that could have an impact on agricultural crop yields, according to an April 4 ... more
Russia’s expulsions of migrants reportedly nearly double in 2024 to around 80,000
Russia in 2024 expelled more than 80,000 migrants for immigration rule violations, compared to 44,200 in 2023 and 26,600 in 2022, TASS reported on January 8. The Russian state news agency cited a ... more
Kazakhstan’s transit of Russian oil to Uzbekistan and China amounts to 10.2mn tonnes in 2024
Russia’s transit of oil through Kazakhstan’s pipeline system, operated by main pipeline operator KazTransOil, to China and Uzbekistan totalled 10.21mn tonnes in 2024, ... more
Most Read
-
Armenia courts African countries to supply diamond industry
17 days ago
-
Russia’s Alrosa finds its largest diamond ever, as Mirny mining operations restart
1 day ago
-
COMMENT: Embracing “Greater Central Asia” has become a strategic imperative for US
11 days ago
-
From blood diamonds to critical minerals: Sierra Leone’s mining transformation
18 days ago