Ala-Too Resort shares sold for 755.7 million KGS

Al-Too Resort Open Joint Stock Company placed its shares on the primary market for the first time. The total placement amounted to 755.7 million KGS, with the price per share set at 1,000 KGS. A total of 755,689 shares were sold.

The placement took place against the backdrop of the company's completed reorganisation from a state-owned enterprise into an open joint-stock company. Previously, the company operated as the Ala-Too Resort State Enterprise under the administration of the President of the Kyrgyz Republic. The founder of the new OJSC is the Cabinet of Ministers.

The reorganisation is aimed at accelerating the implementation of a large-scale project to create the Ala-Too Resort all-season mountain resort cluster in the Issyk-Kul region with the Zhyrgalan, Ak Bulak and Boz Uchuk zones.

Entering the primary market allows the company to formalise its capital structure and attract investment for the construction of infrastructure and the launch of the resort cluster. Experts note that this step increases management transparency and strengthens investor confidence in strategic projects in Kyrgyzstan.