The “UMS” company will be put up for sale again

LLC «Universal mobile systems» will be privatized until 1 April 2023, and «O‘zsanoatqurilishbank» and «Asakabank» – until the end of 2022. This was stated in the decision of the president of Uzbekistan Shavkat Mirziyoyev «On additional measures to further reduce the state’s participation in the economy and accelerate privatization».

According to the decision, until 1 May, 2023, LLC «Universal mobile systems» will be involved in the process of evaluation and sale with the involvement of international consulting, auditing and investment consultant, investment bank or other specialized company (hereinafter referred to as a professional organization) and steps will be taken to privatize it.

Within two weeks until 1 July 2022, 25 grain enterprises of JSC «O’zdonmahsulot» will be put up for sale, and the rest until the end of this year.

In addition, the decision provides for the public placement (IPO) of shares of JCB «Qishloq Qurilish Bank» until October 1, 2022, with the involvement of the International Finance Corporation, the European Bank for Reconstruction and Development and the Asian Development Bank. Until the end of 2022 state shares of “O‘zsanoatqurilishbank” and «Asaka Bank» JSB will be put up for sale.

Also, until July 1, 2023 shares of JSC «Xalq Banki», «Microcredit Bank», «Alokabank», «Agro Bank», and «NBU» will be placed for the public on the stock exchange.