The SMC placed shares as part of its announced capital increase of up to $1 billion

On Wednesday, 12 November, the Kyrgyz Stock Exchange held an additional issue of shares in the State Mortgage Company. As a result, its capital increased by 40.5 billion KGS. This was a key stage in the company's largest recapitalisation, which was approved back in February this year.

According to the exchange, SMC shares were placed at a price of 100,000 KGS per share. The total trading volume amounted to 40.48 billion KGS. A total of 404,804 shares were sold in a single transaction. The placement was carried out in a closed manner in favour of the sole shareholder, the Presidential Administration.

Thus, as part of the recapitalisation approved by SMC shareholders, which involves the issue of 500,000 ordinary shares, the company will have to place another 95,200 shares on the exchange. After the completion of the current stage, SMC s authorised capital will increase to 82,38 billion KGS, which is equivalent to almost $1 billion, making the company one of the largest in terms of capital in Kyrgyzstan.