Uzbek plant starts selling its shares
BAKU, Azerbaijan, Dec. 12
By Fakhri Vakilov-Trend:
Jizzakh Plastic JSC, one of the largest enterprises in Uzbekistan, has launched the second public offer of shares, Trend reports citing the Uzbek media.
A share of 25 percent of the authorized capital of the company will be sold to foreign and national investors (legal entities and individuals) at a price of 36 cents to $3 per share. At the same time, one person can purchase up to 11,402 shares, which is 1 percent of the offer.
During the IPO, online road shows will be organized in all regions of Uzbekistan. New shareholders will be able to participate and invest in one of the leading manufacturers of plastic products without leaving their office or home. Anyone can enter into a contract with a brokerage company and become a co-owner of the production of plastic pipes, film and other plastic products.
It is expected that the placement of shares will allow the company to implement innovative projects aimed at import substitution of important types of products for the country.
In particular, this includes the production of biaxially oriented polypropylene film worth $40 million in the Jizzakh Free Economic Zone, the construction of a mold manufacturing plant worth $10 million and the creation of a test and experimental laboratory the cost of which amounts to $2.5 million.
Jizzakh Plastic JSC is the main supplier of plastic films and pipes for the agricultural sector, as well as housing and communal services and the construction sector of Uzbekistan.
The joint-stock company also has eight joint ventures created with foreign investors from the USA, Turkey, Slovakia, Russia and Italy. Over the past four years, thanks to the expansion of production, shareholders have received dividends in the amount of at least 50 percent of profits.
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