UzAuto Motors plans to conduct an IPO

UzAuto Motors plans to conduct an initial public offering (IPO), head of strategic planning, analytics and development department Rustam Kodirov told reporters.

“It is high time for the state to give way for private business. If a foreign investor wants to buy a stake in the company, we only support this. Moreover, UzAuto Motors is planning to conduct an IPO. Most likely it will be a European exchange,” he said, without telling an exact date.

According to the presidential decree of July 18, 2019, by 2023 it is planned to attract investors through an IPO of at least two joint stock companies that are part of Uzavtosanoat JSC on the domestic and international stock markets.

So, UzAuto Motors, Avtooyna, Avtokomponent and Uzavtosanoat Leasing were included in the list of organizations of Uzavtosanoat JSC, whose shares (part of the share) in the charter capital will be sold to investors.