UAE company Global Engineering and Construction FZE became the owner of a 21.14 percent stake in Uzbekistan’s Uzkishlokelektrkurilish JSC, Trend reports citing Uzbekistan’s Republican Stock Exchange (RSE) "Toshkent”.
As of the end of May 2021, the major shareholder of the JSC was Russian “Spey Medical” LLC, which bought the state share of the enterprise in February 2021.
Uzkishlokelektrkurilish JSC is engaged in the construction, installation and overhaul of power lines.
Earlier, the state share in Uzkishlokelektrkurilish (34.9 percent) was sold for $1.8 million. The block of shares was offered to investors at a 50 percent discount for $1.4 million. During the auction on February 17, 2021, the price increased by 31.5 percent to $1.8 billion.