|
The National Investment Fund of the Republic of Uzbekistan, or UzNIF, on Thursday confirmed plans to proceed with an initial public offering, targeting dual listings on the London Stock Exchange and Tashkent Stock Exchange. The IPO will comprise a domestic offering of shares in Uzbekistan and an international tranche of global depositary receipts, with cornerstone investors including BlackRock and Franklin Resources committing around $300 million. Under the plans, all shares will be offered by the the Ministry of Economy and Finance of the Republic of Uzbekistan as sole shareholder of the company. The fund, which holds a $2.44 billion portfolio of state-backed assets across sectors such as transport, energy and telecoms, aims to boost foreign investment and support the country’s capital market development. UzNIF expects the final price with respect to the offering to be determined following a book-building process that is expected to be announced in mid-May. It anticipates admission to the LSE and TSE to follow shortly after. ‘We are delighted to formally confirm UzNIF’s intention to float on the London Stock Exchange and the Tashkent Stock Exchange,’ said Templeton Global Investments Chief Executive Officer Central Asia Marius Dan. ‘UzNIF’s IPO represents an important milestone both for Uzbekistan’s capital markets and for UzNIF as an investment platform designed to provide exposure to one of Central Asia’s fastest growing economies for a wide range of investors. This IPO will be the first international equity offering from Uzbekistan, which is a testament to the country’s significant progress with its reform programme, underpinning the country’s solid economic growth, rapid transformation and increasing attractiveness for international investors.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
