Finance TCI has become the majority shareholder in Kapitalbank, according to the Unified Corporate Information Portal. Finance TCI bought a package of 214.4 million shares of the bank (50% of the authorized capital) at exchange trading on December 28, 2022. The transaction value was 786.89 billion soums with a share price of 3,670 soums.
At the time of purchase, Finance TCI held 49.4 million securities of Kapitalbank. Combinedly, now the company took possession of a 61.54% stake.
In January 2022, Finance TCI, then affiliated with Alisher Usmanov's USM holding structures, became the owner of an 8.33% stake in the bank. USM's subsidiary Telecominvest became a shareholder of the bank in the fall of 2021, and afterwards upped its stake.
In the end of January, companies associated with Alisher Usmanov controlled 58.33% of Kapitalbank. The previous majority shareholder, the president’s son-in-law, Oybek Tursunov, who became the owner of half of the shares in November 2021, was no longer an affiliate.
However, after the start of the war in Ukraine, Alisher Usmanov fell under the sanctions of the European Union, the United States and the UK. After that, the USM holding announced the sale of Telecominvest and Finance TCI to a “group of private investors interested in developing the business of Kapitalbank”.
Now according to the USREO, Djuzum SPV is listed as the sole founder of Finance TCI. The company is also listed as the owner of Uzum, Uzum Market, Uzum Technologies, IT companies One Factor and Fast Delivery Technologies.
