Uzbek company puts up a quarter of its shares for sale

Business Materials 6 May 2019 15:10 (UTC +04:00)

Baku, Azerbaijan, May 6

By Fakhri Vakilov - Trend:

Jizzakh Plastics JSC of Uzbekistan has placed of up to 25 percent of the authorized capital of the plant’s shares on an initial public offering (IPO), Trend reports with reference to Uzbek media.

Commercial banks of the country or investment intermediaries in the securities market may participate in the competition.

The participant should not be in the process of liquidation and / or bankruptcy and not be insolvent. The participant should also have all the necessary resources, competence, experience and qualifications to perform the contract.

Jizzakh plastics plant was commissioned in 1972. In terms of the production, the plant ranked second among the four largest factories of the USSR. For most of its history, the company remained the main supplier of membranes and pipes for the agricultural and construction sectors of Uzbekistan.

The plant is also focused on the production of consumer goods. The total area of ​​ Jizzakh Plastics JSC with industrial and non-industrial facilities is 14.9 hectares.

By the presidential decree, in 2015, Jizzakh Plastics JSC was included in the list of joint stock companies whose 61.04 percent of the state’s share and 25 percent of the governing body, Uzkimyosanoat JSC, were to be sold to strategic foreign investors.

It was assumed that the private investors, primarily foreign ones, will ensure the modernization and technological renewal of production as well as the manufacture of products competitive in the domestic and foreign markets.


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