05 April 2022

Stock Exchange includes “Uzbekneftegaz” shares in quotation list

Since April 4, “Uzbekneftegaz” shares have been included in the list of the exchange quotation list. This was reported on the website of the RBF Tashkent.

It’s about:

  • simple promotions (UZNG) UZ7036270005;
  • Preferred Stock (UZNGP) UZ7036271003.

The state approved the listing on the Uzbenftegaz stock exchange at the end of last year. The corresponding decision was made on December 30 by the Ministry of Finance, the holder of 100% of the company’s common shares.

For the first time, plans to hold a primary (IPO) and secondary (SPO) public offering of Uzbenftegaz shares became known in the summer of 2019. The deadline for placement was 2024. At the same time, the state planned to maintain control over the company (51% of the shares).

Preparations for the inclusion of the company’s shares in the exchange quotation list of RBF Toshkent began in August 2021. At that time, only preferred shares of the company (24.31 million units) were in free float. The price of one share on the trading floor ranged from 720 sums to 3000 sums of face value – 500 sums.

Last September, Fitch assigned Uzbenftegaz a BB- credit rating with a stable outlook, later given a similar rating in S&P Global Ratings. In November, the company released its first Eurobonds for $700 million.