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Finance 12/03/2012 Uzagrosugurta raises charter capital to 2.787bn soums
Uzagrosugurta raises charter capital to 2.787bn soums
Tashkent, Uzbekistan (UzDaily.com) -- Uzagrosugurta state joint stock insurance company will place shares for over 2.787 billion soums, the company said in a statement.

The Center for coordination and control over functioning of securities market registered the emission of shares of the company on 6 March 2012.

Within the emission, the insurance company will issue 2.23 million shares, including 2.21 million ordinary shares and 20,000 preferential shares. Total sum of the issue is 2.787 billion soums.

The company said that the shares will be placed on close subscription among shareholders through replacement of old shares with par value of 1,000 soums to new shares with nominal value of 1,250 soums.

At the same time, the difference with old and new par values will be paid due to part of undistributed income for 557.5 million soums.

Uzagrosugurta is one of the largest insurance companies of Uzbekistan. It was founded in line with the presidential decree from 25 February in 1997.

The largest shareholders of the company are Ministry of Finance of Uzbekistan (75.6%), Association Uzpakhtasanoat (13.2%), Ansher Investments LLP (4.6%), Turonbank (2.3%), Diamond Age Russian Inv.Ltd (2.12%), Agrobank (0.63%) and Qishloqqurilishbanki (0.47%).

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