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Uzbekistan’s National Investment Fund Plans IPO to Attract Global Investors

4/10/2026

Summary

Story summary

The National Investment Fund of Uzbekistan (UzNIF) plans an initial public offering (IPO) on the London and Tashkent Stock Exchanges.
The Ministry of Economy and Finance, UzNIF's sole shareholder, will sell ordinary shares and Global Depositary Receipts, with proceeds not benefiting the fund.
Established in 2024, UzNIF manages stakes in 13 state-owned enterprises, with a net asset value of $2.44 billion as of December 31, 2025.
The IPO aims to attract international investors to Uzbekistan's economy, with Franklin Templeton Asset Management as trustee and Jefferies as the global coordinator.

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Story summary

The National Investment Fund of Uzbekistan (UzNIF) plans an initial public offering (IPO) on the London and Tashkent Stock Exchanges.
The Ministry of Economy and Finance, UzNIF's sole shareholder, will sell ordinary shares and Global Depositary Receipts, with proceeds not benefiting the fund.
Established in 2024, UzNIF manages stakes in 13 state-owned enterprises, with a net asset value of $2.44 billion as of December 31, 2025.
The IPO aims to attract international investors to Uzbekistan's economy, with Franklin Templeton Asset Management as trustee and Jefferies as the global coordinator.