«Quartz» plans to enter foreign stock markets

“First of all, we want to enter the Asian stock markets. There is no exact time yet. In order for us to comply with international standards, some amendments to the legislation must be adopted in Uzbekistan. For example, there should be independent members in the supervisory board of a joint stock company. ”

Quartz was the first company in the history of Uzbekistan to undergo an initial public offering (IPO). Following the auction, the company sold 4.5 million shares worth more than 7.5 billion soums.

“Usually, companies take a loan from a bank if they need money to expand production or other projects. We went the other way and put up shares for sale. Our name, reputation and financial performance allowed us to attract 7.5 billion additional funds. Now our task is to work stably on the stock exchange. We must convince shareholders that they will be able to receive income from dividends or due to the growth of quotations. Then the prices for the shares will not fall, our confidence will grow, which means we will be able to use the money of shareholders for the implementation of large projects, ”said Akmal Pulatov.
He also added that raising funds through the placement of shares is the correct, modern way, which the Quartz plant will continue to follow.

JSC "Quartz" - one of the leading enterprises for the production of building glass, founded in 1975. The products of the plant are sold on the domestic market, and are also exported to Kazakhstan, Kyrgyzstan, Turkmenistan and Tajikistan. The company occupies 95% of the market of glass jars, 60% of flat glass, 50% of glass bottles. Net income in 2018 amounted to 82 billion soums.

Source: https://www.spot.uz