Foton JSC’s 85.6% state share privatized for 151 billion UZS

The state share in the charter capital of "Foton" JSC has been sold for 151 billion UZS. The buyer is "Havvo Group" LLC. Last year, "Foton" JSC's net revenue amounted to 36.4 billion UZS, and its net profit was 1.4 billion UZS.

Photo: Google maps

The winning party in the bid plans to increase the company's production volume, diversify the range of products, expand the geographical scope of sales, improve management efficiency, and implement modern corporate governance systems to ensure sustainable development.

It is noteworthy that the buyer's offer was at the higher end of the indicative price range calculated by the consultant and above the assessed value of the company, according to the report from the State Assets Management Agency.

For reference, in 2023, "Foton" JSC produced 14,500 units of products, with net revenue amounting to 36.4 billion UZS, net profit of 1.4 billion UZS, net assets of 20.1 billion UZS, and liabilities of 1.8 billion UZS.

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