KAP DEPO Investment Company, in collaboration with its partner payment organization Click, has announced the successful conclusion of an agreement to transform Click from a Limited Liability Company (LLC) into a Joint Stock Company (JSC), Roziqov Muzaffar, IB at KAP DEPO shared on LinkedIn.
This transformation aligns with presidential decree PP-381, on measures to strengthen the protection of the rights of consumers of digital products (services) and to combat offenses committed through digital technologies. As per the decree, effective from July 1, 2024, operators of payment systems and payment organizations are mandated to operate exclusively in the form of JSCs.
KAP DEPO Investment Company, an esteemed player in the Uzbek capital market since 2005, pledges full support to Click, Uzbekistan's largest payment organization, in navigating through this transformation process.
Roziqov Muzaffar further elaborated on the significance of this transition, stating;
"The decree mandates companies responsible for payment systems and organizations to operate as joint-stock companies (JSCs) effective July 1, 2024. Currently, the majority of payment organizations and systems operate as LLCs due to its convenience. Transitioning to a JSC entails additional obligations, such as mandatory disclosure of quarterly and annual reports, IFRS reports, changes in ownership, management, affiliates, major transactions, and more. This transformation signifies not only Click's commitment to excellence but also reassures users of its financial stability and robust corporate structure."
About KAP DEPO
KAP DEPO, established in 2005, operates as an investment company and brokerage firm, specializing in the Uzbek capital market (ECM, DCM). Over the past 15 years, the company has been instrumental in facilitating capital raising for businesses through the local capital market, assisting retail and institutional investors in entering the local stock market, and providing comprehensive investment, consulting, and trading execution services.
Evolving from its inception as a securities custody firm, KAP DEPO obtained brokerage and investment advisor licenses in 2010, swiftly becoming a sought-after investment advisor in Uzbekistan. The company's dedication to professional and high-quality investment and financial services remains steadfast, with a focus on assisting clients in achieving strategic goals within Uzbekistan's capital market.
About Click
Established in November 2011, Click operates on the principles of involvement, leadership, and dedication, aiming to simplify and secure financial transactions between individuals and businesses. Click.uz, the flagship product, offers convenient payment solutions for utility bills, internet, mobile communication, and various services through user-friendly software, adhering to the legislation of the Republic of Uzbekistan.
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