Large Uzbek leasing company to double authorized capital
Tashkent, Uzbekistan, Aug. 7
By Demir Azizov- Trend:
The government of Uzbekistan has adopted a resolution "On measures to further improve the level of capitalization of the stock leasing company "Uzselkhozmashlizing", according to which the company's authorized capital will be increased by 1.9 times - up to 100 billion soums.
The authorized capital of the company will be increased through the placement of additional issue of shares amounting to 48.068 billion soums, according to the decree promulgated in the local media. The shares of the additional issue will be fully acquired by the State Committee of Uzbekistan on privatization, de-monopolization and Competition Development.
Currently, the authorized capital of the company amounts to 51.932 billion soums in which 78.22 percent of stake is owned by the state.
The document says that it "was adopted to ensure the comprehensive mechanization of agriculture on the basis of accelerating the pace of agricultural equipment fleet renewal, [...] as well as increasing the participation of "Uzselkhozmashlizing" company in the processes of modernization of agricultural production."
Uzbekistan's President Islam Karimov signed a decree in May 2014 to create UzAgroPromMashHolding in the agro-industrial engineering sphere.
The holding includes Tashkent Factory of Agricultural Machinery for producing tractors, trailers and cotton pickers, Aggregate Plant JSC and Chirchiq agricultural machinery plant.
Uzselhozmashlizing joint-stock leasing company was founded in 1999 for leasing agricultural machinery manufactured by Uzbek enterprises.
Currently, 88 lessors, including 24 banks and 64 leasing companies operate in Uzbekistan's leasing market.
The official exchange rate on Aug.7 is 2580.19 soums/$1.
Edited by CN