Tashkent, Uzbekistan (UzDaily.com) -- On 9 March, UzAuto Motors announced a tender to select a consortium of underwriters to organize an IPO company.

In order to identify potential investors and receive updates on current market conditions and feedback from underwriting banks organizing the IPO process, in October-November 2021, the company sent a request for feedback to foreign investment banks such as JP Morgan, Citi, Credit Suisse, Raiffeisen Bank International, Societe Generale, Natixis and Gazprombank, as well as local commercial banks and brokers.

Based on feedback from foreign and local investment banks and brokerage firms, UzAuto Motors, together with the Ministry of Finance, developed tender documentation indicating the size and terms of the IPO transaction and announced an official tender to select a consortium of underwriters. 

Local underwriters, foreign banks and investment intermediaries engaged in underwriting activities can take part in the tender. 

The IPO of UzAuto Motors on local and foreign stock markets allows the company to further expand its activities through the implementation of new investment projects, increases its investment attractiveness, improves corporate governance in accordance with international standards, increases transparency and accountability. In addition, this IPO provides the local capital market with high-quality securities that are more attractive to investors and enhances market liquidity.