Investing.com — Uzbekistan is preparing to list its national investment fund on the London Stock Exchange, marking the country’s first-ever London listing, according to a Bloomberg report on Tuesday.
UzNIF, the Uzbek national investment fund managed by Franklin Templeton, is preparing documentation for share sales in both London and Tashkent. The initial public offering could begin as early as the first quarter of 2026, according to sources familiar with the matter.
The fund has already selected banks to help arrange the potential offering, as reported by Bloomberg in September. That same month, Uzbek President Shavkat Mirziyoyev endorsed a government proposal to restructure UzNIF’s portfolio to enhance its appeal to investors.
Meanwhile, IPO preparations for Navoi Mining & Metallurgical Co., one of the world’s largest gold miners, have slowed down. Sources indicated that Navoi is unlikely to launch its London IPO before the end of this year, despite an April presidential decree setting that timeline.
These public offerings are part of President Mirziyoyev’s broader strategy to accelerate privatization efforts and attract foreign capital to Uzbekistan.
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