23 May 2019

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Tashkent +22,2 °C

Industry
4 Apr  2019 648

The state shares in the authorized capital of chemical companies will be sold off

This is part of the measures to reform and increase the investment attractiveness of the chemical industry, presented for by the Decree of the President published yesterday.

The document, in particular, determined that part of the assets would be sold directly to potential investors, and some would be placed at auction at market value.

Thus, 60.35% of state shares and 39.65% of Uzkimyosanoat JSC shares in the authorized capital of Samarkandkimiyo JSC are sold to investors directly at a “zero” redemption value under the condition that new management will organize a modern environmentally friendly chemical production.

JSC "Uzkimyosanoat" will sell to investors a 51% stake in the authorized capital of LLC "Kungrad Soda Plant" at market value on the condition to attract investments, expand the capacity of the enterprise from 200 to 450 thousand tons per year, and release new types of products.

Singapore's Indorama Company will receive 70.54% of state shares and 25% of Uzkimyosanoat JSC assets in the authorized capital of Kukon Superphosphate Creek JSC at a redemption value of $ 4.3 million  with the condition to increase superphosphate production capacity up to 63 thousand tons in terms of 100 percent of the useful substance and start producing new types of products.

At competitive bidding at market value, 48.05% of state-owned shares and 2.95% of shares in Uzkimyosanoat JSC will be sold in the authorized capital of Ferganaazot JSC.

Uzkimyosanoat JSC 26.14% stake in in the authorized capital of the JV Elektrokhimzavod JSC will be place for public auctions.

While JSC Zhizzakh Plastics will place up to 25% of the shares of the authorized capital through an IPO (initial public offering).

In addition, after the transformation of LLC Dekhkanabad Potash Plant and LLC Birinchrezinotekhnika Zavodi into joint stock companies, up to 51% of their shares will be sold at market value or transferred to investors after direct negotiations.

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