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UzAuto Motors prepares for IPO

UzAuto Motors began to prepare for an initial public offering of shares (IPO), it follows from the company’s data on the Single portal of corporate information and the portal of public procurement.

The company is going to issue additional shares of up to 10%. The automaker is now looking for an investment intermediary to handle the process.

Now the sole owner of the company is the state – UzAuto Motors is 100% owned by Uzavtosanoat, which, in turn, is 100% owned by the State Assets Management Agency.

 Uzavtosanoat was instructed to sell shares in four companies, among which was UzAuto Motors (the other three were Avtooyna, Avtokomponent and Uzavtosanoat Leasing). Earlier, GM Uzbekistan changed its name to UzAuto Motors, because Uzbekistan bought out a share of the American company General Motors.