The president’s son-in-law Oybek Tursunov increased his stake in Kapitalbank to 50%, the Spot.uz said with reference to the stock exchange data.
The OTC transaction took place on October 29th. The shareholder acquired an additional 112.49 million common shares of the bank, which is 34.1% of their total number. Prior to that, he already owned 52.43 million shares (now totals 164,927,890 shares).
The authorized capital of Kapitalbank stands at 313.3 billion soums, or nearly US$ 30 million.
In August 2019, Promadik Invest, founded by Oybek Tursunov (93.4%), acquired 40.13 million shares of Kapitalbank. The deal became one of the largest for the banking sector that year.
After the last deal on November 1, Promadik Invest was excluded from the list of affiliates and Oybek Tursunov was added. Now Promadik Invest has 112.49 million shares.
In May 2020, Oybek Tursunov bought 75% in the authorized capital of Uzcard e-wallet system, but in August the controlling stake in 51% of shares was handed over to the National Bank of Uzbekistan, another 6% - to four other banks.
