Tuesday, 23, April, 2019

Uzbek Capital Market Development Agency has compiled a list of state-owned companies that in 2019 may conduct initial public offering (IPO), the agency first deputy director Askar Obidov announced yesterday at a briefing.

“A specific list of firms has already been submitted. We expect that by the year-end, as a target, at least 10 companies will have completed their IPOs. In a moderate scenario - about six companies,” he said at the town hall meeting of the capital market actors.

According to him, this is “a package of shares that is really in demand and interesting for investors.” He, however, did not elaborate on the company names.

The glass manufacturer Quartz, in April 2018, successfully completed the maiden IPO in Uzbekistan’s history.

Note: In line with the presidential decree, the Uzbek Metallurgical Plant, the Almalyk MMC and the Navoi MMC are expected to conduct IPO in the coming years, with a number of Uzbek banks also planning their IPOs.

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