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    Finance

    Garant Bank in Uzbekistan plans additional $9.7 mn share issue

    Garant Bank in Uzbekistan plans additional $9.7 mn share issue

    Garant Bank, a prominent financial institution in Uzbekistan, is gearing up to expand its shareholder base through an additional public offering of shares, as per information obtained from the Unified Corporate Information Portal of NAPP. The decision to proceed with this initiative was greenlit by the bank's supervisory board back in November 2023, although the official registration of the release was finalized only on February 7.

    Photo: Building of Garant Bank
    Source: Garant Bank
    The forthcoming offering will involve the issuance of 1.2 bn shares, each with a par value of UZS 100 ($0.0081), through an open subscription mechanism. This move is anticipated to inject a significant amount of liquidity into the market, with the total issue volume estimated at UZS 120 bn ($9.7 mn).

    As reported by the Tashkent Stock Exchange, Garant Bank presently has 2.3 bn securities in circulation, held by various shareholders. Among these, 3 mn are classified as privileged shares, while the remainder are categorized as ordinary shares. At the current valuation, a common share of the bank commands a price of UZS 232 ($0.019), translating to a market capitalization of approximately UZS 533.2 bn ($43 mn).

    Recent reports from Daryo indicate that the Tashkent Stock Exchange has excluded nine companies from its quotation list. 

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    14.02.2024, 16:22   Comments (0)   1355
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