The announcement by Abdugani Sanginov, Chairman of the Board of Joint-Stock Company “Uzbekgidroenergo” (the Company), comes in line with the strategy set by Shavkat Mirziyoyev, the President of Uzbekistan, for state entities to attract loans from international financial institutions without state guarantees. Uzbekistan is looking forward to committing to international best practice and building investment grade corporations.
Listing bonds on London Stock Exchange (the LSE) is a part of roadmap for Uzbekgidroenergo’s development, along with obtaining international credit rating, preparation of financial statement based on international standards, valuation of company’s assets and implementing ISO 50001 Energy Management System. The Company has been working closely with Fitch Ratings to obtain its international credit rating and Grant Thornton on asset valuation. Important to note that Uzbekgidroenergo was first organization in the country to implement ISO 50001 Energy Management System.
If you are interested in banking & finance and capital markets projects in Uzbekistan, Winfields law firm is ready to provide legal support on the requirements of the legislation of the Republic of Uzbekistan.
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