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23 August 2024

Starting public offering of shares of large companies on the principle “one share - one lot” within the framework of the “People's IPO” program

The State Assets Management Agency in accordance with the privatization programs, announces the start of new stage of public offering of the Uzbekistan's largest companies' shares to citizens.

This program of “People's IPO” is conducted in order to form in the country a wide class of owners - shareholders among all segments of the population. For this purpose, at this stage shares of such major companies as Almalyk MMC, Uzbektelecom, Uzbek Republican Commodity Exchange and Uztemiryulcontainer are offered for sale on the principle of “primary/secondary public offering”.

As previously reported, to carry out this process:

  • International consulting company “KPMG” was attracted as a Strategic Consultant and to coordinate the processes;
  • Consortium “Mosaic Financial” and “Lightman PR” was attracted as PR-consultant for organization of complex informational and explanatory marketing campaign;
  • 6 investment intermediaries - members of the RSE “Toshkent” are included in the list of potential underwriters (“list of winners”), with which general agreements were signed.

In this case, for the successful implementation of the “People's IPO” one or more underwriters, in agreement with the Strategic Consultant, will be assigned by separate contracts to specific companies in which the “People's IPO” will be held.

In cooperation with the Strategic Consultant, a comprehensive analysis of the circulation of shares and necessary documents for the organization of the “People's IPO” was carried out, as well as an analysis of financial and economic indicators of these companies, following the results of which a offer for the initial placement of shares of JSC “Uzbek Republican Commodity Exchange” was prepared.

In turn, the Strategic Consultant conducts a comprehensive analysis of the remaining companies and develops recommendations on their readiness for the initial public offering of their shares, compliance with the standards and requirements of public offering.

In order to conduct public offering of shares of JSC “Uzbek Republican Commodity Exchange” within the framework of “People's IPO” for:

  • development of a business plan/strategy and equity story;
  • providing standard bookrunner services, including accepting applications from potential investors to purchase placed securities, maintaining a consolidated register of applications and organizing the “People's IPO” of shares, investment intermediaries KAPITAL-DEPOZIT, SATORI IB GROUP and SATORI CAPITAL were attracted as underwriters.

In the process of public offering of shares of JSC “Uzbek Republican Commodity Exchange” it was established, in addition to the existing methods of accepting applications applied on the trading platform of the RSE “Tashkent”, applications of local investors will also be accepted using the electronic trading platform “E-auksion”, including its mobile application.

For successful organization of “People's IPO” of shares of JSC “Uzbek Republican Commodity Exchange” the underwriters have an opportunity to cooperate with commercial banks, which have necessary mobile application.

We remind that in order to create a wide access for all segments of the population to participate in the “People's IPO” on the basis of the principle of “one share-one lot” will also be used the possibilities of the platform “E-auksion”, which has become popular among citizens and convenient for users, as well as applications of all residents of the Republic of Uzbekistan (individuals and legal entities) who have shown interest in this process will be accepted also through this platform.

At the same time, an opportunity will be created through the platform online 24/7:

  • identification of applicants (ERI, One ID and Mobile-ID) according to the requirements of the securities market legislation;
  • selecting a professional broker and concluding an agreement with them;
  • opening a depo account (account for shares/bonds);
  • sending applications from local investors to purchase shares.

Parameters of shares placement (price range), materials on investment potential of JSC “Uzbek Republican Commodity Exchange” shares, as well as information on order and terms of application submission will be additionally placed through official information channels of “KapDepo” consortium, State Assets Management Agency, JSC “Uzbek Republican Commodity Exchange”, as well as mass media and social networks.

Thereby, awareness of the public about each stage of the process will be ensured, and the involved PR-consultants will conduct a broad public information and marketing campaign.

We urge all compatriots to take the chance to become shareholders - co-owners of the largest companies of the country and participate in their management.

For information: In accordance with the Presidential Decree of April 19, 2024, it is provided to conduct primary (IPO) and (or) secondary (SPO) public offering of shares of JSC “Almalyk Mining and Metallurgical Combine” (2%), JSC “Uzbektelecom” (2%), JSC “Oʻzbekiston Pochtasi” (5%), JSC “Elektron onlayn-auksionlarni tashkil etish” (5%), JSC “Uzbek Republican Commodity Exchange” (2.4%), JSC “Oʻzbekgeologiya qidiruv” (2%), JSC “Oʻzbekgeofizika” (2%), JSC “Oʻzbekgidroenergo” (2%), JSC “O'ztemiryo'lkonteyner” (4%), JSC “Temiryo'lkargo” (4%), JSC “UzAuto Motors Powertrain” (5%), JSC “RSE "Toshkent" (5%).

Disclamer: The choice of securities on the capital market as an object of investment and, accordingly, the consequences of these investments, the legislation on the securities market is the investor's risk.

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