The country’s authorities intend to increase the authorized capital of the State Mortgage Company to 55 billion soms.
The Ministry of Finance of Kyrgyzstan intends to allocate 29 billion soms to increase the authorized capital of the State Mortgage Company from 2025 to 2027. The draft republican budget for next year says.
Since April 1, 2024, at least 100 percent of the authorized capital of the State Mortgage Company has been fully owned by the Department of Presidential Affairs.
As of the end of 2023, at least 99.99 percent of the authorized capital of the State Mortgage Company belonged to Housing and Savings Credit People’s Housing Company OJSC. It voluntarily ceased its activities.
In July, the shareholders of the State Mortgage Company approved a decision to increase the company’s authorized capital. The State Mortgage Company issued 192 additional common shares with a par value of 100,000 soms each. This is a closed placement in favor of the sole shareholder of State Mortgage Company OJSC — the State Property Management Agency. The agency acquired shares to increase capital.
As of August 2024, the authorized capital was 26.3 billion soms. After the increase, it will be more than 55 billion soms.
