Published
03/31/2026, 17:39State Mortgage Company OJSC is increasing its authorised capital by 35 billion KGS through a new issue of ordinary shares. According to the Kyrgyz Stock Exchange, 350,000 shares with a par value of 100 KGS each have been placed.
The issue is private and is being carried out in favour of the Presidential Administration, which is the company’s sole shareholder.
As of early March 2026, GIC’s authorised capital stood at 87.5 billion KGS. Taking into account the decision to cancel 95,196 previously issued shares worth 9.5196 billion KGS and the new issue worth 35 billion KGS, the net capital increase will amount to approximately 25.48 billion KGS, bringing the total to around 113 billion KGS.
The capital restructuring followed on from a decision by the Cabinet of Ministers, which back in February 2025 ordered the allocation of 35 billion KGS to increase GIK’s authorised capital to finance the state programme ‘Menin Uym’.
The injection of funds into the company is linked to the scale of the housing programme. According to GIK, between 2024 and 2026, the company built and delivered 463,000 square metres of housing, or 6,882 flats. By the end of 2025, 4,662 families had been provided with housing, and since 2021, 9,250 families. The authorities plan to hand over more than 20,000 flats to citizens by 2026.
