Paynet’s decision to increase its authorized capital may be linked to the acquisition of the Humo payment system for $65 million. As of now, Humo remains under the control of the Agency for the Management of State Assets (AUDA).
According to the Unified Corporate Information Portal, Paynet is set to increase its authorized capital by nearly 550 billion UZS.
During an extraordinary shareholders’ meeting held on February 24, the company decided to raise its authorized capital to 558.12 billion UZS. This will be achieved through the issuance of 1.09 trillion ordinary shares, each with a nominal value of 500 UZS, bringing the total issuance volume to 547.64 billion UZS.
According to data from the Unified State Register (YeGRPO), Paynet’s current authorized capital stands at 10.5 billion UZS, slightly exceeding the minimum requirement set by the Central Bank for payment service providers as of July 1, 2024.
The newly issued shares will be allocated through a closed subscription to its sole shareholder, New Industrial Technologies, which previously privatized Paynet. The placement period for the additional shares will be one year from the date of state registration.
At the shareholders’ meeting on February 7, Paynet approved the issuance of up to 1.97 trillion additional ordinary shares, each with a nominal value of 500 UZS, totaling 989.5 billion UZS.
Paynet’s decision to increase its authorized capital is likely tied to the company’s acquisition of the National Interbank Processing Center, which manages the Humo payment system. In January, AUDA announced the sale of this state asset for 840.3 billion UZS ($65 million).
According to official data, AUDA remains the sole founder of Humo (although YeGRPO lists “shareholders”). This suggests that either the transaction has not yet been finalized, or the relevant changes have not yet been recorded in the state register of legal entities.
