Avesta Investment Group and Uzmetkombinat JSC are pleased to announce the successful signing of an agreement

Avesta Investment Group and Uzmetkombinat JSC are pleased to announce the successful signing of an agreement to start the preparation process for a follow-up public offering (FPO) of Uzmetkombinat JSC at RSE Toshkent during the Uzbekistan Economic Forum 2022 in Samarkand. 

The agreement is aimed to describe the main directions of work on organizing the placement process, a plan of specific measures aimed to create the most favorable conditions for the placement of shares, the growth of share prices, and the evaluation of shares to determine the price corridor during the placement, which will be recommended to shareholders and the Supervisory Board of Uzmetkombinat JSC.

In addition, within the framework of the second day of the Forum, at the panel discussion Uzbekistan IPO Pioneers, organized by Avesta Investment Group, Uzmetkombinat had a presentation on the business and prospects for the placement of shares to more than 200 guests and colleagues, which was attended by the Chairman of the Board of JSC Uzmetkombinat Mr.Rashid Pirmatov, Chairman of the Board of the RSE Toshkent Mr.George Paresishvili, representatives of the Ministry of Finance, local and foreign investors. During the presentation, the CFO of the company Mrs.Tatiana Budei noted the prospects for the development of projects for the expansion of production capacities, as well as the importance of implementing projects in the field of green economy and plans to obtain an ESG rating. 

Uzmetkombinat JSC (RSE: UZMK, UZM1) - is the leader of ferrous metallurgy in Uzbekistan, starting the history since 1944. The plant has an installed capacity of more than 1 million tons of rolled metal per year, and is also implementing a large scale investment program to increase capacity to 2.5 million tons during 2021-2026. The enterprise employs more than 12 thousand people, and the products are sold in all regions of the country and are exported to various countries of the World, including Europe. More than 80% of the company's shares are owned by the State. A significant part of the shares are traded on the Tashkent Stock Exchange - common and preferred shares of the company have the status of highly liquid, and the company's market capitalization exceeds 7 trillion UZS (about $625 million).

Avesta Investment Group LLC - is a leading investment banking firm founded in Tashkent in 2003 and currently operating in the Central Asian and Caucasus region. The firm provides financial and M&A advisory services, arranges debt and equity capital, and conducts equity and economic research. The basis of company's clientele are foreign portfolio and strategic investors, as well as local private companies. Since 2010, the company has been the exclusive partner for Uzbekistan of the New-York based international brokerage firm AuerbachGrayson that operates in more than 120 countries.