Uzbekistan, Tashkent, Dec. 7 / Trend D.Azizov /
Uzbek joint-stock commercial bank Turonbank, included in the group of medium banks in Uzbekistan, will increase its registered capital by 21.4 per cent up to 34 billion soums, the bank report said.
The authorised capital will be increased by directing part of the retained earnings in 2010-2011 to the amount of six billion soums and increasing nominal per share by 300 soums up to 1.700 soums from the current 1.400 soums.
Currently, the bank has registered the prospectus of shares for a total amount of 34 billion soums. In total, 20 million securities will be issued including 16.91 million ordinary shares and 3.09 million preferred shares with a nominal value of 1700 soums each.
Shares of the issue will be placed by private subscription among the shareholders according to participation shares through conversion of smaller nominal value shares to shares of the new issue.
As previously reported, in December last year the bank issued an additional emission of shares for 4.2 billion soums, planning to increase its authorised capital by 17.7 per cent.
In total, three million securities were issued, including 2.5 million ordinary and 500.000 preferred shares with a nominal value of 1.400 soums each.
Issue shares were placed through public subscription, including 25 per cent of the total issue volume through the Republican Stock Exchange Toshkent.
The authorised capital of the Bank consists of 20 million shares, including 16.91 million ordinary shares and 3.09 million preferred shares with a par value of 1.400 soums.
Turon JSCB was established in October 1990. The founder is the Uzbek Ministry of Agriculture and Water Resources and its departments. The majoroity shareholders of Turonbank are Energokimyomarkaz with 19.4 per cent, Tabiat Mehri farm with 16.1 per cent and Infrastruktura JSC with 14.35 per cent. According to the bank, its assets currently stand at about 500 billion soums.
The bank consists of 15 branches in all regions of the country, more than 100 departments of banking services, including a retail service centre network, exchange offices and savings banks in all regions of Uzbekistan.
The official exchange rate on December 7 is 1972.99 sum / $ 1.