OREANDA-NEWS. January 13, 2011. Uzpromstroybank open joint-stock commercial bank on 13 January started the emission of non-cash nominal subordinated corporate bonds. The decision was registered in Center for Securities Market.

The nominal price of corporate bonds comprises 100,000 soums, while number of bonds amounts to 280,000.

IPO will be carried out by close subscription among potential investors – legal entities. The bond is sold in non-cash form in soums, the national currency of Uzbekistan, via opening special bank account to accumulate money received from the sale of bonds.

Each bond provides equal rights. The bond owner is entitled to receive the nominal cost of the bond when redeeming the bond in time. The bond owner is entitled to receive income in the form of the interest from the nominal cost of the bond at the floating rate.

The bank guarantees bond owners the return of investments in case of bond emission abortion or invalidation in accordance with legislation of the Republic of Uzbekistan. The bond owner has a right to sell or alienate the bond in any other way.

The bond owner has other rights envisaged by the legislation of Uzbekistan. The bank undertakes to ensure the rights of bond owners if the latter exercise their rights in order prescribed by the legislation.