Baku, Azerbaijan, February 25
By Fakhri Vakilov - Trend:
Uzbek government intends to sell the state share in JSC Quartz, which specializes in the manufacture of glass products, in the amount of 25 percent of its authorized capital through SPO, Trend reports via Nuz.uz.
The first block of shares in the amount of 5 percent of the authorized capital of JSC Quartz is planned to be put up for public exchange trading in June of this year.
A glass factory in the city of Kuvasay of Uzbek Fergana region was built in 1975 and incorporated in 1993. Nowadays, it produces flat, architectural and automotive glass, glass packaging, glass blocks and other products.
Over the years, the plant launched new German and Italian production lines. Products are exported to Central Asia countries and Afghanistan. In 2010, the company mastered the production of bronze glass, which was previously imported from Russia, China and Turkey.
At the end of 2017, Quartz JSC held the first IPO in the history of Uzbekistan by providing an additional issue of 4.57 million shares (10 percent of the authorized capital) with an aggregate nominal value of 4.57 billion soums.
At the exchange trades, the value of the share of extra emissions ranged from 3,000 to 9,100 soums per share. Thus, the return on shares sold in IPOs ranged from 30.5 percent to 10 percent. At the same time, it was managed to place only 2.47 million shares.
The authorized capital of Quartz JSC was formed in the amount of 82.7 billion soums due to the placement of more than 48.2 million ordinary shares with par value of 1,715 soums. The largest shareholder is the state represented by the Agency for the Management of State Assets, which owns 75 percent of enterprise’s shares.
At the end of 2017, dividends on shares of Quartz JSC were accrued at the rate of 914.8 soums per share or 53.3 percent of its face value, in 2016 - 1172 soums (68.3 percent), in 2015 - 597 soums (34.8 percent), 2014 - 543 soums (31.7 percent).
The company's net sales fell in January-September 2018 by 2.2 percent compared to the same period in 2017 to 224.75 billion soums, gross profit - by 16.6 percent to 106.3 billion, net profit - by 1.3 percent to 69.3 billion soums.
($1=8383.15 soums on Feb. 25)
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