12:02 / 23.08.2022
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State share in Uzcard up for sale

The State Tender Commission has announced the sale of 75 percent of state shares in the Unified All-Republic Processing Center (Uzcard).

Photo: spot.uz

The stake, which previously belonged to five state banks, was transferred to the State Assets Management Agency in March 2022 as part of the program to further reduce state participation in the economy and accelerate privatization.

According to the law “On limited liability and additional liability companies”, the remaining owners of stakes in the company can use their preferential right to purchase the state share. Currently, the remaining 25 percent (6.25 percent each) is divided between four individuals - Mansur Usmanov, Kamron Akbarov, Timur Azadov and Obid Agzamkhodjaev.

If they do not use the preferential right to purchase, measures will be taken to sell the state share through public auctions.

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