The key facts

  • The placement of National Investment Fund shares on the London and Tashkent stock exchanges became the first international IPO in Uzbekistan's history.
  • About $700 million was raised, with demand exceeding supply more than four times.
  • Future IPOs are expected to expand citizens' participation; Franklin Templeton's involvement in the Tashkent International Financial Center was discussed.

Meeting in Samarkand

On October 19, President of Uzbekistan Shavkat Mirziyoyev received in Samarkand the President and Chief Executive Officer of the American company Franklin Templeton, Jenny Johnson. This was reported by the president's press service.

Results of the first international IPO

The meeting reviewed preliminary results of work on the transformation of large state-owned enterprises. It was noted that the placement of shares of the National Investment Fund of Uzbekistan on the London and Tashkent stock exchanges became the first international IPO in the country's history. Thanks to the placement, about $700 million was raised, with demand exceeding supply more than four times.

Plans for the next stage

At the next stage, the transformation of companies from the fund's portfolio is planned to continue in order to improve the welfare of the population, as well as the reliability and quality of services. Special attention is being paid to expanding citizens' participation in subsequent share placements.

Other topics of the talks

The parties also discussed the preparation of large companies for IPOs, the professional development of their managerial staff, and Franklin Templeton's participation in the work of the Tashkent International Financial Center.

Фото: Пресс-служба президента