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TASHKENT, Nov 29 (Reuters) – Uzbek state-owned carmaker UzAuto Motors will provide native residents as much as 5% of its shares in a Dec. 1-22 public providing focused at retail buyers, underwriter Freedom Dealer mentioned on Tuesday.
The corporate, which produced 360,000 vehicles of varied Chevrolet fashions a 12 months, plans to lift as much as $98 million from the itemizing, in line with knowledge printed by Freedom.
UzAuto dominates the native market within the Central Asian nation of 35 million, thanks partially to punitive import duties. It additionally controls a big share of neighbouring Kazakhstan’s market.
The corporate will maintain a drawing to win a Chevrolet Tracker amongst buyers. Residents who wish to purchase the inventory might want to go to one among its dealerships with the intention to signal the required papers.
Reporting by Mukhammadsharif Mamatkulov
Writing by Olzhas Auyezov; Modifying by Lisa Shumaker
Our Requirements: The Thomson Reuters Belief Rules.
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