BAKU, Azerbaijan, Aug-24
By Fakhri Vakilov-Trend:
In October 2021, Uzbekistan’s Uzbekneftegaz JSC is planning to issue Eurobonds for the first time, Trend reports with reference to the press service of the company.
To prepare for the issue of bonds, Uzbekneftegaz JSC will prepare interim financial statements for 6 months of 2021 based on international standards (IFRS).
All data from Uzbekneftegaz’s 23 subsidiaries for the first half of 2020 and 2021 have already been processed, and a preliminary draft of the document has been prepared.
The financial statements of the company will be audited by Ernst & Young.
Consolidated financial statements prepared for the 1st half of 2021 and the auditor's report on this report are widely used by Uzbekneftegaz JSC in cooperation with international rating agencies, financial and legal consultants to obtain a corporate credit rating, issue its own Eurobonds on international stock exchanges and introduce corporate governance based on international standards.
Note that, Uzbekneftegaz JSC is included in the list of enterprises whose shares were planned to be listed on the stock exchange in 2021-2023. The company is already preparing for an IPO. The organization's shares will be included in the exchange quotation list of Uzbekistan’s Republican Stock Exchange "Toshkent". At the moment, the company's shares are traded on the OTC platform Elsis-Savdo.
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