TASHKENT, April 24 : The government of Uzbekistan will sell a 30 per cent stake in the Central Asian country’s National Investment Fund (UzNIF) in initial public offerings on the London and Tashkent stock exchanges in May, the president’s press service said on Friday.
The IPO will mark the first time an Uzbek state-backed entity has tapped global capital markets. Uzbekistan, the most populous country in the region, has been pursuing a programme of economic reform under President Shavkat Mirziyoyev, who took office in 2016, even as politics in the former Soviet republic remain tightly controlled.
“Next month, we will list 30 per cent of our $2.4 billion state assets on international stock markets for the first time,” the presidential press service quoted Mirziyoyev as saying.
UzNIF was established by presidential decree in August 2024 and holds stakes of between 25 per cent and 40 per cent in a number of key state‑owned enterprises.
According to various estimates, UzNIF’s assets total $2.44 billion.