One of Big Four to enter securities market of Uzbekistan

Finance Materials 7 September 2019 10:40 (UTC +04:00)

Baku, Azerbaijan, Sept. 7

By Fakhri Vakilov - Trend:

One of the Big Four audit companies, KPMG expressed its readiness to obtain an investment advisor license and interest in obtaining an investment intermediary license in the securities market of Uzbekistan, as was announced during the meeting at the Capital Market Development Agency with representatives of KPMG, Trend reports with reference to the Capital Market Development Agency.

A license from an investment advisor will allow KPMG to advise joint-stock companies preparing to privatize or enter an initial Initial Public Offering (IPO). When a company decides to enter the stock exchange, it turns to investment intermediaries - the so-called IPO underwriters, who in turn sell its shares to investors. In this way, KPMG will be able to act as an investment advisor and possibly an underwriter of these IPOs.

In addition, the participants agreed that they will also work out the legal aspects of obtaining a license and in the near future the company will be able to work with enterprises as a licensed participant in the securities market of Uzbekistan.

KPMG is one of the Big Four audit firms along with Deloitte, Ernst & Young and PwC. The international headquarters is located in Amstelveen (Netherlands). The company provides three types of services: audit, tax and consulting services. Consulting services, in turn, are divided into three groups: management consulting, risk consulting and business restructuring.


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