Tashkent Stock Exchange

Tashkent Stock Exchange is the major securities trading platform and the only corporate securities exchange in Uzbekistan. It was founded by the government in 1994 as an open joint stock company, located in the capital of Uzbekistan - Tashkent.

Tashkent Stock Exchange
TypeStock exchange
LocationTashkent city, Tashkent Region, Uzbekistan
FoundedApril 8, 1994 (1994-04-08)[1]
OwnerUzSAMA 75% + 1 share, KRX 25% - 1 share
CurrencyUzbekistani soum
No. of listings111
Market capUS$8.5 billion
IndicesUCI
Websiteuzse.uz

Overview

It has a license for the exchange activity given by the State Committee of Competition[2] and regulated under the Laws of Uzbekistan on exchanges (1992), on joint stock companies (1996), on securities market(2008)as well as a number of under-law legal acts of government and securities commission.[3]

According to presidential decree dated March 19, 2012 Korea Exchange (KRX) is expected to become a shareholder of Tashkent RSE in 2014 by acquiring 25 percent in the equity capital. Meantime, shareholders of RSE are local largest commercial banks and state.

Historically, securities market of Uzbekistan formed due to the massive privatization in the 1990s of state owned enterprises after collapse of Soviet Union and gaining independence from Moscow. Unlike the Russian Federation, Uzbek government gradually privatized SOE, first reorganized them into joint stock companies and then selling only part of the shares in equity capital through stock exchange. As a result, there are no extremely wealthy business magnates so called "oligarchs" in Uzbekistan, while number of shareholders exceeds 1.2 million. Nowadays, state keeps controlling shareholder power at few major industrial enterprises of the country.[4]

The Tashkent Stock Exchange is a member of the Federation of Euro-Asian Stock Exchanges.

References
  1. "History of the Tashkent Stock Exchange". Retrieved March 4, 2018.
  2. Infos at www.gki.uz
  3. Infos at csm.gov.uz.
  4. Infos at www.uzse.uz
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