Uzbekistan puts up for sale state-owned shares of four enterprises

Business Materials 6 November 2015 14:13 (UTC +04:00)

Tashkent, Uzbekistan, Nov. 6

By Demir Azizov- Trend:

The Uzbek State Committee on Privatization, De-monopolization and Development of Competition put up for sale four companies' state-owned assets worth $267.6 million.

The shares will be sold at an auction at the Tashkent Republican Stock Exchange, the committee said. The first auction will be held on December 11.

In particular, the Uzbek State Committee will sell 48.05 percent of shares of Ferghanaazot JSC, the largest chemical business manufacturing nitrogen fertilizers. The starting price being asked for the shares is $152.8 million.

The 75 percent state-owned stake of "Quartz" JSC, the largest manufacturer in Central Asia of flat colored, tinted and tempered glass, glass jars and bottles, was also put up for sale, at a starting price of $94.3 million.

Investors can also obtain the 60.35-percent shares in Samarkandkimyo JSC (Samarkand Chemistry) for a starting price of $13.1 million and 61.04-percent share in Jizzakh plastic JSC for $7.4 million.

Regulations call for investors to commit to investment obligations in the enterprises. When obtaining shares in Quartz JSC, the investment obligations for reconstructing and modernizing the enterprise will be $9.2 million, Samarkandkimyo JSC - $14.2 million and Jizzakh plastic JSC - $1.1 million.