Jizzakh accumulator plant to sell over 51% of its shares to foreign investors 

According to the report of “Uzavtosanoat”, on December 14 of this year, the Uzbek automobile company will place 51.78% of shares of the JSC “Jizzakh accumulator plant” on sale for foreign investors on the Republican Stock Exchange “Tashkent”. A foreign investors will be sold 38,601,936 units worth totaling more than 93.8 billion sums, the report said. 
 
It should be recalled that the “Jizzakh accumulator plant” was included in the list of joint stock companies operating in the field of production and primary processing of strategic raw materials, as well as natural monopolies and suppliers of socially important goods and services at regulated prices by the resolution of the Uzbek President from January 23, 2017. 
 
Such companies are not subject to the requirement to attract 15% foreign investment to the authorized capital. 
 
Previously, the JSC “Jizzakh accumulator plant” was included by the government in the list of enterprises, in which the state share was offered on sale for foreign investors. Foreigners were offered an equity stake of 33%. 
 
The JSC “Jizzak accumulator plant” supplies the JSC “GM Uzbekistan”, LLC “SamAvto” and LLC “JV MAN Auto-Uzbekistan” with batteries. 
 
The products manufactured by the company are sold under the trademarks “ENERGY”, “ATLANT”, CLASSIC” and “HOPPENERGY”. 
 
For information, the JSC “Jizzakh accumulator plant” was established in March 2010 on the basis of the Uzbek-American joint venture “UzExide”, which was declared bankrupt by the regional economic court of Jizzakh in 2009.