Tashkent, Uzbekistan, June 8
By Demir Azizov- Trend:
Germany's ALWA GmbH & Co. KG will become a shareholder of Uzbekistan's private Orient Finans Bank, said the bank's message.
The message said that the Orient Finans Bank's shareholders during their annual meeting in late May decided to increase the bank's authorized capital by 15 percent, thanks to the placement of additional share issue for 9.25 billion soums in favor of a foreign investor.
As a result of additional emissions' buy-out, ALWA company's share in the bank's authorized capital will be 15 percent.
Currently, the bank's authorized capital is 52.358 billion soums.
Uzbekistan approved the procedure, according to which from July 1, 2016, joint-stock companies should have at least 15-percent share owned by a foreign investor in their authorized capital.
At the joint stock companies, in which the share of a foreign investor will be from 15 to 33 percent, benefits on payment of taxes and compulsory payments, given to the enterprises with foreign investments, will be distributed.
Orient Finans Bank was established in June 2010 in Tashkent. The bank gives financial support for the projects of small and private businesses. The share of individuals in the bank's authorized capital is 80 percent.