Uzpromstroybank (UzPSB) has opened a tender to acquire advisory services on the privatisation sale of a controlling stake in the bank, according to the website of the commodities exchange.
The terms of reference note that the competition will be run according to the “Strategy of reforming the banking sector to 2025.” A decree on accelerating privatisation, issued in March 2022, is also mentioned.
The bank confirmed it expected to sell a controlling stake to private investors — at least 50% plus one share. The deal is expected to take place before the end of this year.
The consultant is to provide recommendations on the privatisation process, market conditions and possible reorganisation of corporate governance.
Only international consulting firms and investment banks can participate in the tender.
UzPSB estimated the initial cost of the services at $2mn.
The bank features on the list of 40 state-owned companies with shares that will be put up for sale in a "People's IPO". The state intends to offer up to 2% of the bank's shares to a wide range of investors through E-auksion.
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
20 hours 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