The offering placed shares equal to 5% of Kvarts’ capital with domestic and international investors. Portfolio Investments acted as lead underwriter alongside Freedom Finance. The transaction remains an early domestic equity-capital-markets benchmark for price discovery and post-offering liquidity.
Kvarts completed a secondary public offering of shares representing 5% of the company’s charter capital, raising approximately UZS 16 billion from local and international investors.
The placement achieved a weighted-average price of UZS 3,278.16 per share. Portfolio Investments acted as lead underwriter alongside Freedom Finance, combining investor distribution with local-market execution.
By 24 December 2019, the shares were quoted at UZS 3,700 on the secondary market. The transaction remains an early reference point for follow-on equity offerings in Uzbekistan. For future SPOs, the central lesson is that valuation, broad investor distribution and credible secondary-market support must work together. Early aftermarket performance can aid confidence, but it should not be presented as a guarantee of future returns.
This material is provided for general information only and does not constitute investment, legal or tax advice, or an offer or solicitation in any jurisdiction.