BAKU, Azerbaijan, June 2
By Ilkin Seyfaddini – Trend:
The state share of Kafolat Insurance Company (25 percent) will be sold at an online auction, Trend reports citing the State Asset Management Agency.
The package consists of 8.83 billion common unregistered shares. The price of one share is 2.56 soum per share (0.00025 USD). The price of the state share package is 22.6 billion soum ($2.2 million)
Sale of 25 percent of state share of Kafolat Insurance Company is envisaged by the presidential decree of April 29, 2019 on attracting foreign investment into the country.
The transaction will be held online auction on a special Nego Board platform of the Republican Stock Exchange Toshkent.
The Agency for State Assets Management owns 66.5 percent of the company's shares. Also among the main shareholders are Uznatsbank, Navoi Mining and Metallurgical Complex, Almalyk Mining and Metallurgical Complex, Aloqabank and Asaka Bank, Uzagrosugurta JSC, Uzbekinvest.
Kafolat Insurance Company was founded in 1997. The authorized capital is 33.6 billion soum ($3.3 million). The company has 15 branches, 60 branches and 145 insurance centers in all regions of Uzbekistan.
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