On March 24, President Shavkat Mirziyoyev signed the Additional measures to reduce state’s participation in the economy Decree, UzA reported.
The Decree approved a list of 40 entities, the blocks of shares of which will be sold through public auctions in throgh a people's IPO on the principle of One share - one lot.
In particular, for the first time, individuals will be able to buy about 2% of the shares of such large enterprises as the Navoi and Almalyk mining and smelting enterprises, the Uzbek Metallurgical Plant, Uztelekom, the National Bank, and Uzsanoatqurilishbank. As previously reported, individuals will have the opportunity to buy shares directly from enterprises. Companies whose shares are acquired through an IPO will spend at least 30% of their net profit on dividend payments during a period of five years.
The decree allows the involvement of professional firms in the organization of bidding processes based on the selection of the best proposals.
For domestic investors, it is planned to create the possibility of their identification, enter into agreements with investment intermediaries and opening a depo account through the E-auksion electronic trading platform, including its mobile application, in real time.
E-auksion was instructed to create equal conditions for the participation of all investment intermediaries and their clients in the acquisition of shares.
An electronic application for the purchase of shares can be submitted by the investor himself or through an investment intermediary acting on behalf of investors.
Based on the results of online auctions, the registration of sale and purchase agreements will be carried out outside the trading floors of the organizers of securities trading. Information about the registration result shall be sent to the investor's personal account.
Within a month, procedure for selling shares of enterprises shall be approved on the basis of a people's IPO.
- Navoi MMC
- Olmaliq MMC
- Uzbek Metallurgical Plant
- National Bank
- Ipak Yuli Bank
- Commodity Exchange
- Andijan biochemical plant
- Body Power Plants
- National Electric Networks of Uzbekistan
- Regional Electric Networks
- Minora Kurish Expedition
- Kukon Neftgaz Parmalash Ishlari
- Kuprikkurilish UE
- State Unitary Enterprise Center for Organizing Electronic Online Auctions**
- State Enterprise Central Securities Depository**.