BAKU, Azerbaijan, May 17. Uzbek Almalyk Mining and Metallurgical Combine intends to conduct an initial public offering (IPO) in 2023-2024,Trend reports via Uzbek media outlets.
As a result, the enterprise can place up to 25 percent of its shares on foreign markets. It plans to place up to 5 percent of common shares on the local market, and up to 25 percent on foreign sites.
The Almalyk MMC produces about 90 percent of silver and 20 percent of gold in Uzbekistan. At the end of 2021, its production increased up to 148,500 tons.
In 2021-2028, the enterprise is implementing a project to increase copper production worth $5.1 billion through the development of the Yoshlik-1 deposit in the country’s Tashkent region.