BAKU, Azerbaijan, Dec. 3
By Klavdiya Romakayeva - Trend:
The sole shareholder of Uzbekistan Railways JSC made a decision to increase the authorized capital of the company by issuing additional shares by 96.84 million soums, Trend reports referring to uzdaily.uz.
According to information, the shares are paid for by transferring the balance (residual) value of fixed assets of pumping stations and the territory of the Ministry of Defense located in Tashkent in 4.06 hectares with buildings and structures.
As part of the issue, the company will place 59,719,753 ordinary shares with a par value of 430 soums each ($0.041). The total amount of the issue accounts for 25 billion soums ($2.46 million).
All shares within this issue will be placed by private subscription to the government.
Uzbekistan Railways JSC, in turn, will receive a state share in several enterprises.
The Uzbekistan Railways are the national rail carrier of Uzbekistan. The company owns and operates all railways within the country. It is a state-owned stock company, formed in 1994 to operate railways within Uzbekistan. As of March 2017, the total length of its main railway network is 4,669 km (2,446 km of which is electrified).
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