BAKU, Azerbaijan, Nov. 12
By Klavdiya Romakayeva - Trend:
Limited and additional liability companies in Uzbekistan are entitled to issue corporate bonds, Trend reports referring to the Capital Market Development Agency in Uzbekistan.
The Capital Market Development Agency has made changes to the rules for the issue of securities and state registration of issues of equity securities.
The number of companies that will be able to use this financial instrument for attracting additional investments will significantly increase.
The amendments provide for the separation of the rules for issuing bonds into more simplified requirements for private placement (closed subscription) and higher requirements for public offering through the stock exchange (public subscription).
In addition, the prospectuses for the issue of securities will be unified into one single prospectus (except for privatized enterprises and investment funds), providing for maximum transparency of the activities of companies, publication of possible risks associated with the acquisition of securities, as well as full disclosure of information about the company.
Also, it is planned to reduce the number of documents submitted by the issuer to the regulator for state registration of securities, as well as to introduce provisions that provide for the effective protection of investors' rights.
These changes will serve to create the most favorable conditions for issuers, to attract new participants to the market in the person of LLCs and ALCs, to fully disclose information, increase the volume of the bond market, as well as to effectively ensure the protection of the rights and legitimate interests of investors, the message says.
As of July 1, 2020, the number of operating commercial enterprises (according to the classification of organizational and legal forms) amounted to 373,382 units.
More than 65 percent of them are limited liability companies.
Some, 244,100 enterprises operated for 7M2020 in the LLC format in Uzbekistan, which is 43,000 more (or 121.4 percent) compared to the same period last year.
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