“Uzbekneftegaz” plans to hold a “people’s IPO” by the end of the year, selling up to 2% of the company’s shares to the public and entrepreneurs, the company said.
Now work has begun on the local stock market to attract underwriters and consultants. The road show is planned throughout the republic.
The population will be given the opportunity to participate in auctions through the electronic trading platform “Eaukcion”, including through a mobile application.
Earlier, the authorities of the country talked about IPO plans not only in the local, but also in foreign markets. It was planned to offer investors at least 49% of “Uzbekneftegaz” shares.
Rothschild & Cie was engaged as a financial consultant to prepare for the IPO, EY, a consultant on the audit assessment of readiness for the IPO, legal support — White & Case, implementation of corporate governance — PwC.
Caspian Barrel
