Note: This information was kindly provided by Uzinfoinvest
State-owned share of Joint-Stock Commercial Aloqabank in the amount of 47.5% stake is being offered for sale to strategic foreign investors according to the Decree by the President of the Republic of Uzbekistan dated April 28, 2015 No.2340 "On Measures Aimed at Increasing the Share and Significance of the Private Property in the Economy".
International company Grant Thornton Valuation evaluated the market value of the state share in the authorized capital of JSC Aloqabank. For today, the starting price of shares in stock exchange is 38.4 million USD (or 8.33 cent per stock).
Based on the financial condition and strategic financial plans of your company Uzbekistan's government offers to all investors to review the opportunity to buy the state share in the authorized capital of JSC Aloqabank in whole or in part. The state share in part sold at least 15 percent, which amounts to 12.12 million US dollars.
It is worth noting that according to the Decree by the President of the Republic of Uzbekistan dated December 21, 2015 No.2454 "On Additional Measures to Attract Foreign Investors in Joint Stock Companies" there are lots of new tax benefits and preferences for foreign investors in the Republic of Uzbekistan. For instance, foreign investors are exempted from tax on dividend income until January 1, 2020. Moreover, joint-stock companies with foreign investment in amount of more than 15% in authorized capital are free of tax on income, tax on property, tax on improvement and development of social infrastructure, single tax payment and other assessments to budget.
If investors need additional information or procedures for the acquisition of state shares of the bank, they can directly contact with Umid Khojikhonov, senior officer, by e-mail [email protected] and by phone: +998712385288.
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