UzAuto will put its shares up for sale for the first time

UzAuto Motors together with the Ministry of Finance has announced an official tender for the selection of a consortium of underwriters. The tender is open to local underwriters, foreign banks and investment intermediaries.

The placement of shares will be aimed at increasing capital and reducing the state's share in the company's capital, and the funds raised will be used to finance development projects and the production of new quality car brands.

"Placement of shares in local and foreign markets has great financial advantages. This will inevitably affect the quality of corporate governance, its transparency and efficiency. UzAuto Motors will be required to comply with many new requirements for disclosure of information, quality of transparency and development in decision-making, and greater care. The presence of foreign investors, which requires a comprehensive explanation from management, significantly increases the responsibility of employees at all levels of the company", said Karen Srapionov, Director of Avesta Investment Group.