(MENAFN- AzerNews) Silk Avia airline and the Humo payment system, both whollystate-owned, will be put up for public sale. Additionally, sharesof state holdings in four organizations under "Uzbekneftegaz" JSC,forty-two under "Uzavtosanoat" JSC, and nine under "UzbekistanRailways" JSC will be privatized, Azernews reports, citing Kun news agency.
The presidential decree "On additional measures to reduce thestate's participation in the economy" has been adopted.
The decree confirms the following:
- A list of share packages (shares) to be offered in publictrading;
- A list of real estate objects of state and state-participatedenterprises to be offered in public trading;
- A list of enterprises whose shares will undergo an initial (IPO)or secondary (SPO) public offering on the local stock market.
If state assets remain unsold for three months (with the exceptionof Tashkent city and regional centers), their value can begradually reduced by up to 10 percent.
Entrepreneurs who have rented state property for at least fiveyears and fulfilled their obligations under lease agreements untilthe current year will have the right to purchase the objectdirectly at the assessed value included in privatizationprograms.
From July 1, 2024, in large state-participated enterprises:
- A corporate secretariat accountable to the supervisory boardwill be established to improve the corporate governance system,including increasing the efficiency of its bodies;
- Updated corporate governance rules and ethics code will beimplemented;
- The possibility to formalize the supervisory board's protocolsthrough electronic voting using remote information andcommunication technologies will be created.
Privatization of state shares in four organizations within"Uzbekneftegaz" JSC, forty-two within "Uzavtosanoat" JSC, and ninewithin "Uzbekistan Railways" JSC will take place.
Furthermore, 100 percent of state shares in Silk Avia airline,“National Interbank Processing Center” (Humo payment system), andKhumson sanatorium will also be put up for public sale.
In addition, an initial (IPO) and secondary (SPO) publicoffering of state shares in twelve large enterprises will beconducted on the local stock market.
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