BAKU, Azerbaijan, Nov. 14
By Fakhri Vakilov - Trend:
Uzbekistan has placed 4.8 million shares owned by the state, which is 5 percent of the authorized capital of Quartz JSC for sale on the stock exchange, Trend reports citing the press service of Uzbekistan’s State Assets Management Agency.
In order to purchase shares of Quartz JSC, a potential buyer needs to open a brokerage account with Freedom Finance (leading investment broker in Central Asia), then invest the funds corresponding to the purchased number of shares.
Analysts forecast a rise in stock prices next year to 43 percent. Quartz JSC regularly pays dividends. Moreover, product quality is constantly improving and its assortment is expanding, raw material costs are being optimized and contribute to the growth of enterprise incomes.
“The enterprise is the largest producer of flat glass, glass bottles, cans, glass for the automotive industry, as well as heavy-duty materials in the Central Asian region. It covers 60 percent of Uzbekistan’s needs for building glass, 95 percent - glass jars and 50 percent - bottles, and this is one of the reasons why people should invest in shares of Quartz JSC, ”said Evgeniy Mozheiko, the director of Freedom Finance.
Secondly, Mozheiko added, in 2020 it is planned to launch a new sheet glass production line, which will increase output by 3 times and reduce the import of similar products from abroad.
In early November, the conditions for the sale of 51 percent of the shares (48.05 percent - the state’s share and 2.95 percent - the share of Uzkimyosanoat JSC) in the charter capital of Ferghanaazot JSC were announced by selecting the best offers of potential investors with the participation of Ernst & Young.
Investors are required to make investment commitments to bring ammonia production capacity to 660,000 tons, urea - up to 600,000 tons, ammonium nitrate - up to 700,000 tons and nitric acid - up to 530,000 tons per year. In addition, a condition is laid on the adoption of social obligations in the form of creating new jobs.
Quartz JSC, one of the leading enterprises in Central Asia, was created in 1975 to provide glass containers for canning plants in the Central Asian region. The main activity of Quartz JSC is: the production of glass jars, bottles, polished glass, colored glass and glass for the automotive industry, as well as the manufacture of tempered glass.
The glass factory was incorporated in 1995, and in 1996 the production of sheet glass began.
Quartz JSC is a leading manufacturer and monopolist in the domestic market for building glass. The largest shareholder of Quartz JSC is the state represented by the State Assets Management Agency with a share of 94.78 percent.
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