Published
10/08/2025, 13:00On the Kyrgyz Stock Exchange, a deal involving shares of the company “Liniya Prava Uran” took place on the last trading day of last week. At first glance, it seemed like an ordinary transaction — if only the company did not hold two licenses for gold exploration in Jalal-Abad province. Over the past five years, the company has regularly paid to maintain these licenses.
On October 3, 10,500 ordinary shares of JSC “Liniya Prava Uran” were sold on the secondary market. The price per share was 5,413.57 KGS, bringing the total transaction amount to 56.8 million KGS, or approximately 650,000 USD. The entire block of shares was acquired by a single owner.
The company is not among the major market players: it has no public reports for investors, nor data on the number of shares outstanding. A request to the Kyrgyz Stock Exchange yielded no results — they explained that they only have the information provided by the company at the time of listing and do not possess details about the buyers or the structure of the share block.
At the same time, we managed to find archival data published on the exchange’s website, according to which “Liniya Prava Uran” had 14,000 shares outstanding. If the capital structure has not changed since then, the current transaction means that a controlling stake — 75% of the company’s shares — has passed to a single owner.
It was not possible to obtain further details. Formally, the company’s exchange profile lists contact information, but it proved to be useless. The phone number provided is currently in use by the Supreme Court.
“Liniya Prava Uran” was established back in 2002 and later re-registered in 2007. Its charter documents state that the company specializes in exploratory drilling. Since 2017, the company has held licenses for geological exploration of both primary and placer gold deposits in Chatkal district of Jalal-Abad province.
Since 2020, the company’s activities have been limited solely to paying fees to maintain its licenses. According to the “Open Budget” portal, nearly 30 million KGS — about 338,000 USD at the average annual exchange rate—were transferred to the budget over five years. The majority of these funds went toward regular mandatory payments, without which the licenses would have become invalid.
“All companies holding licenses are required to pay fees to maintain them. The exception is for those that have begun extraction and are fulfilling the established work volume plan. This plan is based on project documentation and confirmed in annual reporting. When it comes to a geological exploration license, as is the case with ‘Liniya Prava Uran,’ the fee is paid quarterly,” — the Kyrgyz Geological Service of the Ministry of Natural Resources of the Kyrgyz Republic explained to Akchabar, noting that at this stage, companies generally do not engage in active commercial operations.
That is indeed the case: in 2020, the company contributed nearly 700,000 KGS to the budget. Except for 2,100 KGS paid for waste removal and property tax, the entire amount was the fee for maintaining two licenses — No. 5492 for primary gold in Ala-Buka district and No. 5493 for placer gold in Chatkal district of Jalal-Abad province.
The situation changed only at the end of 2024, when the reports included a payroll fund of about 2 million KGS — enough to cover three employees at the industry’s average salary (in 2024 amounted to 57.9 KGS).
According to tax reports, in 2025 the company’s payroll fund increased by approximately 3.5–4 times. On one hand, this could indicate that the company has finally entered an active phase of operations; on the other hand, it could simply be part of a strategy to “boost” the asset’s value ahead of its sale.
Who purchased the 650,000 USD block of shares is not yet known. The Ministry of Justice previously listed three individual founders, whose names are undisclosed in the documents. The company’s director is Emil Osmonbetov. It is known that the company was established with foreign capital, but its origin could not be determined.
