TASHKENT, Uzbekistan, March 29. Uzbekistan's Madad Invest Bank will issue common shares for a total of 150 billion soums ($11.9 million) for additional capitalization, Trend reports.
As per data published on Uzbekistan's unified portal of corporate information, the bank intends to bring its authorized capital to 350 billion soums ($27.7 million).
The bank will place 30 million common shares with a nominal value of 5,000 soums each ($0.40).
The shares will be placed by closed subscription to Muminjon Yuldashev, Ravshanjon Shokirjonov, Stroy Montaj Invest LLC, and Yangi Avlod Qurilish Invest LLC.
At the moment, the authorized capital of the bank is up to 200 billion soums ($15.8 million).
Earlier, President of Uzbekistan Shavkat Mirziyoyev signed a law on the gradual increase of the minimum amount of authorized capital. This indicator should be 350 billion soums ($27.7 million) from the beginning of April and 500 billion soums ($39.6 million) from the beginning of January 2025.
Meanwhile, Uzbekistan's Hayot Bank will issue common shares for a total of 150 billion soums ($11.9 million) for additional capitalization.