Uzbekistan’s Aloqabank has chosen an underwriter to conduct an initial public offering (IPO).
According to the terms of reference, the bank plans to place up to 5% of its shares on the Tashkent Stock Exchange in an offering that the lender expects to complete by the end of the year.
Aloqabank was included on a government list of 40 state-owned companies, the shares of which were earmarked for sale in a "People's IPO". Within the framework of that offer, the state intends to offer up to 2% of the bank's shares to a wide range of investors through an online auction.
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