Tashkent, Uzbekistan, Feb.17
By Demir Azizov- Trend:
Turonbank JSCB which is included in the group of medium banks in Uzbekistan, will increase its authorized capital by 15 percent (to 46 billion soums) by placement of additional issue of shares worth six billion soums, the bank said.
The bank will issue some 3.52 million securities with par value of 1,700 soums each, according to the emission prospectus.
It is planned to provide the placement of shares by public subscription, whereas at least 25 percent of them will be placed by the Republican Stock Exchange Tashkent.
Turonbank increased its authorized capital by 17.7 percent, to 40 billion in 2013 by issuing additional emission of six billion soums. Securities were placed by public subscription.
Currently, the bank's authorized capital has been formed in the amount of 40.001 billion soums and consists of 23.53 million securities, including some 19.739 million common and 3.791 million preferred shares with par value of 1.7 soums each.
At present, the bank's assets amount to over 700 billion soums. The amount of the loan portfolio as of late 2013 amounted to 418.9 billion soums, increasing by 20 percent compared to 2012, the total capital increased by 37.9 percent, to 65.9 billion soums.
Turonbank was established in October 1990 in Uzbekistan. The bank's founder is the Uzbek Ministry of Agriculture and Water Resources and its departments. The large shareholders of Turonbank are Energokimyomarkaz LLC with 19.4 percent, Tabiat Mehri farm with 16.1 percent and Infrastruktura LLC with 14.35 percent.
The bank consists of 15 branches in all regions of the country, more than 100 departments of banking services, including a retail service center network, exchange offices and savings banks in all regions of Uzbekistan.
The official exchange rate on Feb.17 is 2215.99 soums/$1.
Translated by L.Z.
Edited by C.N.