Baku, Azerbaijan, April 9
By Fakhri Vakilov – Trend:
Uzbek company Jizzak Plastic plans to sell up to 25 percent of its share capital, Trend reports via Uzbek media.
Shares will be put up for an IPO in December of this year. It will be held in stages, until September 2020. Received money will be directed to the financing of investment projects.
State Statistics Committee stressed that currently the state owns 66.2 percent of the company's shares, Uzkimyosanoat JSC - 27.1 percent, individuals and legal entities - 6.7 percent.
In April-November 2019, an appraisal organization will be attracted, which will determine the market value of the company's shares, conduct an examination of the reports and prepare the necessary documents.
In case the money received will not be enough, then Jizzak Plastics shares in previously established joint ventures will be sold too.
Jizzak Plastic plant is located in the south-eastern part of the city of Jizzak in Uzbekistan. The plant was designed in the 1960s and commissioned in 1972. In terms of production, the plant ranked second among the four largest factories of the USSR.
For most of its history, the plant remained the main supplier of films and pipes for the agricultural and construction sectors of Uzbekistan.
---
Follow author on Twitter:@vakilovfaxri
