Tashkent, Uzbekistan, Nov. 21
By Demir Azizov - Trend:
Almalyk Mining and Metallurgical Complex JSC (AMMC, the Almalyk city, Tashkent region) - the largest copper producer in Central Asia - will increase its authorized capital by 27.3 per cent - up to 252.278 billion soums, the complex' message said on Nov. 19.
According to the message, the increase of the authorized capital will be carried out by increasing the nominal value of each share from 2,214 soums to 2,812 soums.
A part of the AMMC's net profit for 2012 and the remaining net profit for 2011 totaling 54.098 billion soums are being directed to the increase in the nominal value of the securities.
It was reported that the enterprise's net profit in late 2012 increased by 6.5 per cent compared to 2011 - up to 137.273 billion soums.
During the annual meeting held in July the AMMC shareholders decided to direct 39.4 per cent of the total volume of net income for 2012 to the development of the enterprise and capitalisation.
According to the enterprise, the Center for Coordination and Development of Securities market under State Competition Committee of Uzbekistan registered the issue of securities of the AMMC totaling 252.278 billion soums.
The prospectus of the emission envisages issue of 87,466,100 ordinary shares and two million 249,558 preference shares at par value of 2,812 soums each. The securities will be placed with a closed subscription among shareholders of AMMC in line with the participation shares through the conversion of previously issued shares to new ones.