Saturday, 25, May, 2024

A company affiliated with the Uzbek-native Russian billionnaire Alisher Usmanov once again increased its stake in Kapitalbank. On February 8, FINANCE TCI, a subsidiary of Telecominvest owned by Alisher Usmanov, bought 16,493,327 ordinary shares, or a 3.81% stake in Kapitalbank, the Tashkent Republican Stock Exchange said in a statement.

At the same time, the share of companies owned by Alisher Usmanov reached 61.54%. The number of shares owned by Usmanov (including the total number of shares previously purchased by affiliates) is 263,893,229. They are all ordinary shares.

President’s son-in-law Oybek Tursunov, who owned 50% of Kapitalbank's shares since November 2021, was removed from the bank's list of affiliates on 20 January.

Tursunov has been replaced by Russian companies Telecominvest and Korus. Korus has been included in Kapitalbank's list of affiliates since January 12, 2022. Korus is also affiliated with Alisher Usmanov's Telecominvest.

In January 2022, Telecominvest brought its stake in the bank to 25%.

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