27 Apr 2023 18:22

Uzbekistan plans to offer shares in 40 strategic cos in 2023

TASHKENT. April 27 (Interfax) - Uzbekistan plans to hold initial public share offerings for 40 strategic enterprises in 2023, President Shavkat Mirziyoyev said.

He said in a keynote address at the second Tashkent Investment Forum that shares in gold and copper mining companies would be offered, as would shares in telecoms and insurance companies and banks.

Uzbekistan will also out government stakes in a thousand state companies and a thousand other state-owned assets up for sale this year.

"We've adopted a 'thousand plus thousand plus 40' privatization program for this year," Mirziyoyev said.

He said there were plans to create a competitive environment in the transport sector and that the creation of five private airlines, as well as the transfer of the Samarkand airport to external management, made it possible to increase the frequency of flights on domestic and international flights 2.5-fold.

"This year we will also transfer the management of airports in Andijan, Namangan, Bukhara and Urgench to the private sector," Mirziyoyev said.

Railway reforms are also planned. "We are embarking on major transformations in the railway industry, and I urge investors to play an active role in this process," Mirziyoyev said.

Reports have said national oil and gas company Uzbekneftegaz was one of those earmarked for an IPO; up to 2% of its shares would be offered to investors this year at public auctions at a 'people's IPO' on a one share, one lot basis. The search for underwriters and consultants is underway. A roadshow will be held throughout the country.