Deputy Prime Minister discussed with Rothschild & Co the privatization plan and preparation for the IPO

On June 12, Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov met with representatives of the Rothschild & Co Group. The meeting was attended by member of the Supervisory Board Ariel Malard de Rothschild, head of the CIS division Giovanni Salvetti, Chairman of the Management Board of UzAssets Bobur Abdinazarov and other high-ranking officials and experts.

The main topic of discussion was the progress in the privatization of state assets and preparations for the initial public offering (IPO) of the banking sector. The parties analyzed the current stages of transactions conducted jointly with international financial institutions and noted the results achieved in the transition to a private ownership model.

Special attention was paid to attracting large strategic investors and creating a competitive environment in the financial market. The participants exchanged views on optimal mechanisms for increasing the share of private capital and forming transparent procedures for the placement of shares.

Following the meeting, a number of further steps were agreed on to introduce innovative approaches to the privatization process, develop corporate governance standards in banks and ensure international compliance of financial infrastructure. In addition, the parties confirmed their readiness to actively cooperate in organizing IPOs of state-owned enterprises based on open and competitive principles.