Avesta Investment Group and Uzmetkombinat JSC (UZMK) hosted the initial presentation about the FPO process scheduled for 1H2023


Initial presentation (part 1, part 2) of the Uzmetkombinat JSC on the follow-up public offering process started at the Tashkent Stock Exchange 

    Avesta Investment Group and Uzmetkombinat JSC are pleased to announce the successful presentation dedicated to the start of preparations for a follow-up public offering (FPO) of Uzmetkombinat JSC shares at Tashkent Stock Exchange. 

   At the solemn event on the occasion of FPO, the welcoming speeches were addressed to potential investors by the Deputy Minister of Finance Odilbek Isakov, the Chairman of the Board of JSC Uzmetkombinat Rashid Pirmatov, while the First Deputy Chairman of the Board Dilshod Akhmedov, the CFO Tatiana Budei and CIO of the AFC Uzbekistan Fund Scott Osheroff were mostly speaking about the company and it’s perspectives.

   During the speech, the Chairman of the Board of JSC Uzmetkombinat Rashid Pirmatov noted the prospects for the development of projects for expanding the company's production capacities, as well as the importance of implementing projects in the field of green economy and plans to obtain an ESG rating. At the event, a video presentation was demonstrated, reflecting the current state of the metallurgical enterprise, so that guests could visualize what the plant looks like from the inside. In addition to this, the guests were shown a presentation about the plant, its financial performance and plans to improve the quality of corporate governance with comments from the company's management.

   The underwriter of the follow-up public offering (FPO) of Uzmetkombinat JSC is Avesta Investment Group. Karen Srapionov spoke about the plans and timing of the placement, the vision of its process and conditions on the part of the organizers and the prospects for the placement of shares of Uzmetkombinat JSC for more than 120 guests, including representatives of the investment community, commercial banks and insurance companies of the country, foreign investors.

   About the companies:

  Uzmetkombinat JSC
 (RSE:UZMK, UZM1) is the leader of ferrous metallurgy in Uzbekistan, starting the history since 1944. The plant has an installed capacity of more than 1 million tons of rolled metal per year, and is also implementing a large-scale investment program to increase capacity to 2.5 million tons during 2021-2026. The enterprise employs more than 12 thousand people, and the products are sold in all regions of the country and are exported to various countries of the World, including Europe. More than 80% of the company's shares are owned by the State. A significant part of the shares are traded on the Tashkent Stock Exchange - common and preferred shares of the company have the status of highly liquid, and the company's market capitalization exceeds 7 trillion UZS (about $625 million).

  Avesta Investment Group LLC is a leading investment banking firm founded in Tashkent in 2003 and currently operating in the Central Asian and Caucasus region. The firm provides financial and M&A advisory services, arranges debt and equity capital, and conducts equity and economic research. The basis of company's clientele are foreign portfolio and strategic investors, as well as local private companies. Since 2010, the company has been the exclusive partner for Uzbekistan of the New-York based international brokerage firm AuerbachGrayson that operates in more than 120 countries.