On June 8, a practical seminar was held between the Ministry of Finance and the London Stock Exchange on the processes and benefits of IPO.

Tom Attenborough, Head of International Business Development, Primary Markets at London Stock Exchange made a presentation on the preparation processes for IPO, organization of IPO and share placement, specific characteristics, measures to be taken at each stage, and possible obstacles that may arise.

The seminar was attended by about 100 specialists, including 23 state-owned enterprises, which, in accordance with the Decrees and Resolutions of the President, is to conduct IPOs.

During the Seminar, the experts of LSE stressed the importance of effective implementation of corporate governance principles, including independent members on the Supervisory Board.
 

In addition, Speakers provided information on the mechanisms for placing shares on the London Stock Exchange through DRs, financial requirements and the minimum free float for public offering. It was noted about the need for custodian banks and depository banks to implement these mechanisms and about the readiness of TheCityUK, a British company, to establish contacts with these banks.

Deputy Finance Minister Odilbek Isakov stressed the importance of the seminar as a basis for bilateral cooperation, and the application of international principles in preparing enterprises for IPO on the local market, as a result, international investment banks are allowed (without obtaining a license) to participate in the local market by forming a consortium of underwriters with local investment intermediaries. 

Source: MoliyaPress