Regulatory Alerts2014-08-20 | 239Added · Updated
On Approval of the Regulation on Quotas and Procedures for the Placement and Circulation of Securities
The Cabinet of Ministers of Uzbekistan approves a regulation establishing quotas and procedures for the placement and circulation of securities. Non-resident securities may be placed in Uzbekistan via Uzbek Depository Receipts (UDRs) up to a maximum of 25% of the total issued volume of that security type, subject to strict eligibility criteria including listing on a foreign exchange and a minimum ten-year operational history. Conversely, resident securities may be placed abroad up to 25% of their total issued volume, with specific exemptions for state-owned enterprises conducting IPOs or SPOs. The Central Depository is responsible for maintaining records, issuing UDRs, and ensuring compliance with these quotas.
More like this from CBU
We email you every new CBU publication the day it's published.