LEGAL FOUNDATIONS OF CONDUCTING IPOS BY JOINT-STOCK COMPANIES IN UZBEKISTAN AND WAYS TO IMPROVE THEM: A FORMAL-LEGAL AND COMPARATIVE LEGAL ANALYSIS
DOI:
https://doi.org/10.5281/zenodo.19371913Keywords:
IPO, joint-stock companies, capital market, prospectus, disclosure, investor protection, comparative legal analysis.Abstract
This article analyzes the current legal foundations for conducting IPOs by joint-stock companies in Uzbekistan
through formal legal and comparative legal approaches. The study examines issuance, state registration, disclosure,
and investor protection across the main stages of an IPO. By comparing Uzbekistan with the United States, the United
Kingdom, and the European Union, it identifies regulatory gaps related to the legal definition of IPOs, prospectus
architecture, liability chains, and listing standards. The article concludes with practical proposals aimed at consolidating
the regulatory framework, strengthening disclosure standards, clarifying investor-protection mechanisms, and digitalizing
IPO procedures.
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