State Sells 2.6% Stake in “UzBAT” for US$22.2 Million on Uzbekistan Stock Exchange

Tashkent, Uzbekistan (UzDaily.com) — On 6 October, a transaction involving 641,661 shares (2.6% of the authorized capital) of JSC SP “UzBAT A.O.” was completed on the Uzbekistan Stock Exchange. The shares were sold at a price of 420,395 soums each, with the total value of the transaction amounting to 269.8 billion soums (approximately US$22.2 million).

Initially, the share package was planned to be offered under the “People’s IPO” program in 2023, but the company was later removed from the list of upcoming IPOs. Ultimately, the stake was sold through a stock exchange transaction.

For the 2024 fiscal year, UzBAT allocated 66% of its net profit (929.2 billion soums) to dividends. Shareholders received 37,700 soums per share, which equaled 314% of the nominal value and provided a dividend yield of around 9% at the current market valuation.

The deal valued UzBAT’s market capitalization at approximately 10.36 trillion soums, equivalent to around US$855 million.