Uzbekistan’s State Assets Management Agency (UzSAMA) has announced the commencement of a new stage in the public offering of shares for some of Uzbekistan's largest companies under the "People's IPO" program. This initiative aims to foster a broad class of shareholders among all segments of the population, allowing citizens to become co-owners of major national enterprises.
As part of this stage, shares of key companies including Almalyk Mining and Metallurgical Combine (Almalyk MMC), Uzbektelecom, Uzbek Commodity Exchange, and Uztemiryulkonteyner will be offered to the public on the principle of "one share - one lot." The offering will be conducted through primary and secondary public offerings (IPO/SPO).
To ensure the success of the "People's IPO," the State Assets Management Agency has engaged several strategic partners:
- KPMG has been enlisted as the Strategic Consultant, responsible for coordinating the overall process.
- A consortium comprising Mosaic Financial and Lightman PR has been appointed as the PR consultant, tasked with organizing a comprehensive information and marketing campaign.
- Six investment intermediaries, members of the RSE "Toshkent," have been selected as potential underwriters, with agreements signed to facilitate the offering process.
In addition, specific underwriters will be assigned to individual companies involved in the "People's IPO" based on agreements with the Strategic Consultant.
A detailed analysis of the financial and economic indicators of the companies involved has been conducted by the Strategic Consultant. This analysis has led to the preparation of an initial share offering for the Uzbek Commodity Exchange.
Further evaluations are being carried out on the remaining companies, with recommendations on their readiness for public offerings being developed. These recommendations will ensure compliance with public offering standards and requirements.
The public offering of shares for the Uzbek Commodity Exchange will be facilitated by investment intermediaries Kapital-Depozit (KapDepo), Satori IB Group, and Satori Capital. These underwriters will provide services such as accepting applications from potential investors, maintaining a consolidated register, and organizing the IPO.
In an effort to increase accessibility, local investors will be able to submit their applications through the existing trading platform of the RSE "Toshkent" as well as the electronic trading platform "E-auksion," including its mobile application.
The "E-auksion" platform, already popular among citizens, will also be used to ensure wide access for all segments of the population to participate in the "People's IPO." This platform offers features like 24/7 online identification of applicants, selection of professional brokers, opening of depo accounts, and submission of purchase applications.
To ensure transparency and public awareness, the parameters of the share placements, including price ranges, investment potential materials, and information on the application process, will be published through the official information channels of the KapDepo consortium, the UzSAMA, and the companies involved. This information will also be disseminated through mass media and social networks.
The PR consultants will lead a broad public information campaign to encourage participation in the "People's IPO," emphasizing the opportunity for citizens to become shareholders and take part in the management of these major companies.
All citizens of Uzbekistan are encouraged to seize this opportunity to invest in the future of the country by becoming shareholders in these leading enterprises.
This new phase of the "People's IPO" follows a presidential decree issued on April 19, 2024, which outlined the primary and secondary public offering of shares for several major companies, including:
- Almalyk Mining and Metallurgical Combine (2%)
- Uzbektelecom (2%)
- Oʻzbekiston Pochtasi (UzPost) (5%)
- Elektron onlayn-auksionlarni tashkil etish (Organizing Electronic Online Auctions) (5%)
- Uzbek Commodity Exchange (2.4%)
- Oʻzbekgeologiya qidiruv (Uzbek Geological Exploration) (2%)
- Uzbekgeofizika (2%)
- Oʻzbekgidroenergo (Uzbekhydroenergo) (2%)
- Uztemiryulkonteyner (4%)
- Temiryo'lkargo (Utycargo) (4%)
- UzAuto Motors Powertrain (5%)
- RSE "Toshkent" (5%)
In addition, the choice of securities as an investment object is the investor's responsibility, and the risks associated with these investments are subject to the laws governing the securities market.
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