According to information published on the TSE website, the transaction involved the sale of 175,472,021 shares at 69,499 UZS per share, a price 17.7 times higher than their nominal value. The deal’s total value reached 12.2 trillion UZS (approximately $954.3 million based on the Central Bank’s exchange rate).
The transferred shares, representing 24.7% of AMMC's total equity, were issued in August 2024 following a decision by the company’s shareholders and registered on October 7. These shares were created to fulfill a presidential decree from 2020, which stipulated the use of RDF funds to finance the project's first phase to expand the production of non-ferrous and precious metals at AMMC mines.
In addition to the RDF’s $1 billion loan, the $4.6 billion “Yoshlik-1” project is funded by $250 million in AMMC's internal resources and a syndicated loan from domestic and international financial institutions.
The “Yoshlik-1” mine development project, which began in 2021, includes the construction of the third copper concentration plant. In October 2024, construction of the fourth plant also commenced, with its estimated cost reaching $5.3 billion. A fifth plant is currently under design.
Based on the valuation from the recent transaction, AMMC’s capitalization now stands at $3.9 billion. The company plans to conduct an initial public offering (IPO) on international stock markets in the third quarter of 2025, offering up to 5% of its shares. Additionally, 2% of shares will be sold to domestic investors under the government’s “People’s IPO” initiative.