Uztelecom IPO successfully closed

Portfolio Investments, the lead underwriter for Uztelecom's initial public offering (IPO), is pleased to announce the successful completion of the transaction.

The final placement price per share was 6,000 soums, with an oversubscription of 131% (43.6 billion soums), making the total transaction volume 33.25 billion soums.

This stage of the placement was historic, as it saw significant participation from retail investors. Through the Jett investment service, Portfolio Investments opened over 15 thousand brokerage accounts, with retail investors collectively purchasing more than 2 million shares, constituting about 40% of the total issue. Corporate and institutional investors also displayed strong interest, purchasing 3.5 million shares (60% of the issue). A total of 10,950 brokerage accounts were funded, with retail investors holding 10,940 of them.

The price dynamics on the secondary market indicate sustained interest from retail investors; in the first few days of trading, the price rose to 7,500 soums, marking a 25% increase compared to the offering price. Shares under the symbol UZTL became the most actively traded on the Tashkent Stock Exchange, with a trading volume of almost 1.7 billion soums and 2 343 transactions made in the first three days.

As it is shown in the table below, Uztelecom JSC currently ranks first in terms of aggregate trading volumes for the first three days after the placement and second place in terms of the volume of the placement itself among all IPOs on the Toshkent Stock Exchange.

The Portfolio Investments team extends gratitude to all investors for their trust and looks forward to successful cooperation in future placements.