BAKU, Azerbaijan, June 2
By Klavdiya Romakayeva - Trend:
Cypriot Lamanka Enterprises Limited Company bought out more than 84 percent of the shares of Akhangarantsement JSC, cement plant in Uzbekistan, Trends reports referring to Unified portal of corporate information in Uzbekistan.
According to the information, Lamanka Enterprises Limited became the owner of 4.14 million ordinary shares. The purchase transaction of the block of shares was registered on May 25.
It is reported that the value of the transaction amounted to 557.68 billion soums, or $53 million, becoming the largest transaction on the stock exchange. The price per share in the transaction amounted to 134,670 soums ($12.67), with a par value of 1,000 soums ($0.095) per unit and the current exchange quotation of 759,200 soums ($71.91) per unit.
Akhangarantsement was established in the middle of the XX century. In 1970, it became a complex, in 1980 - a production association. In 1994, the plant was privatized and transformed into a joint-stock company. For a long time, the main owner of the enterprise was Zeromax, from which the Russian Eurocement bought 75.5 percent of the shares in 2006. Late, this stake was increased to 83.9 percent.
In 2020, the Russian Eurocement went under the control of Sberbank for debts and was put up for sale.
Akhangarantsement is one of the largest taxpayers in the country and is also considered one of the companies dominating the market. The plant's net profit in 2019 topped 179.8 billion soums ($17 million), in 9M2020 - 187.1 billion soums ($17.7 million), in 1Q2021 - 24.8 billion soums ($2.3 millon).
---
Follow the author on Twitter: @romakayeva