Uzpromstroybank to commission privatisation consultant

By Muzaffar Ismailov in Tashkent May 6, 2023

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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Saudi ACWA Power to deliver $4.1bn of green hydrogen and wind projects in Uzbekistan

Saudi Arabia's ACWA Power has announced plans to construct green hydrogen and wind projects in Uzbekistan. In partnership with state-owned Uzkimyosanoat, it will implement green hydrogen projects ... more

Vice chief of Korea’s financial regulator helps facilitate fintech business, investments in Kyrgyzstan and Uzbekistan

The vice chief of Korea's financial regulator, Kim So-young, last week spent four days in Kyrgyzstan and Uzbekistan facilitating overseas business expansions by Korean financial firms and joint ... more

Entrepreneurs from Uzbekistan and China agree to push ahead with $25bn of projects

Entrepreneurs from Uzbekistan and China agreed to push ahead with $25bn worth of projects on the sidelines of a business forum in China. Some 41 documents aimed at deepening cooperation between ... more

Follow Us On

Feedly logo Follow on Feedly
Flipboard

Most Read

  1. COMMENT: The diamond industry is in crisis and Botswana is going rogue!
    3 days ago
  2. Lukashenko collapses a second time, hospitalised in Moscow
    16 hours ago
  3. The EU can’t find most of Russia’s $300bn of frozen reserves
    3 months ago
  4. Is Lukashenko dead?
    15 days ago
  5. Zimbabwe's $320mn deal to purchase 32 helicopters from Russia raises dust
    5 days ago
  1. Is Lukashenko dead?
    15 days ago
  2. The EU can’t find most of Russia’s $300bn of frozen reserves
    3 months ago
  3. COMMENT: The diamond industry is in crisis and Botswana is going rogue!
    3 days ago
  4. Belarus’ Lukashenko struck down by mystery illness in Moscow, rushed back to Belarus
    18 days ago
  5. BlackRock launches Ukraine Development Fund together with the Ukrainian government
    19 days ago

Reports

Dismiss