KyrgyzTelecom raised nearly $1 million on the Kyrgyz Stock Exchange

KyrgyzTelecom raised capital on the Kyrgyz Stock Exchange, completing a major share placement deal. According to stock exchange data, on 22 October, the volume of trading in the company's shares amounted to 83.4 million KGS, which was the result of the initial placement.

A total of 14 million 183 thousand 978 ordinary shares were placed in a single transaction. The placement price was 5.88 soms per share.

The proceeds will be used to increase the authorised capital of the joint-stock company. This decision was made on 25 July this year at an extraordinary general meeting of shareholders. The initiative was voted for by 188.6 million votes (89.48%). This allowed the company to issue additional shares.

According to the company's listing prospectus, as of July this year, the company's shareholders were 9,534 minority shareholders, who together owned a 7.6388% stake, as well as 29 legal entities that owned a 92.3611% stake, 90.3487% of which was state-owned. The main shareholders of KyrgyzTelecom remain the Ministry of Digital Development, which holds 76.8% of the shares, and the Social Fund, which holds 12.5%.

We would like to add that after the change in the authorised capital, it will amount to 1 billion 323.5 million KGS.