UAE company to buy securities of Uzbekistan's 2nd largest bank
Baku, Azerbaijan, Dec. 25
By Fikret Dolukhanov – Trend:
UAE-based investment company Frontera Capital will acquire securities of O’zsanoatqurilishbank, Trend reports on Dec. 25 referring to the press service of the bank.
The delegation of O’zsanoatqurilishbank visited the United Arab Emirates, where the parties signed the agreement on development of cooperation.
The document provides for raising $50 million using investment and credit instruments.
The agreement also provides for the sale of securities of the Uzbek bank to the UAE company, which will expand the bank’s ability to attract resources and finance investment projects on a long-term basis.
The parties also intend to establish cooperation in the credit market of Uzbekistan.
It should be noted that O’zsanoatqurilishbank ranks second in the country in terms of assets with 29.3 trillion soums (14.1 percent of the total volume).
(8339.55 UZS = 1 USD on Dec. 25)
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