OREANDA-NEWS. August 19, 2010. The board meeting of Savdogarbank, an Uzbek-German open joint-stock commercial bank, made its decision on the emission of 120 million shares at the nominal price of 100 soums.

The shares will circulate during one year soon after the registration at the Centre for Securities Market under the State Property Committee.

Not less than 25% of the emitted shares will be placed at the primary sector of UzSE. Shares will be sold at UzSE, Savdogarbank and its branches.

However the sale of shares implies some limitations: the law limits the volume of shares bought; non-residents should obtain the official permission of the Central bank before the purchase; legal entities-buyers registered in the offshore zone are not admitted to the purchase of shares.

To be noted, the bank rules specify a shareholder's right to enter the bank shareholders' registrar, to receive dividends from the bank revenue, to participate in bank management and to freely dispose dividends received.