Tashkent, Uzbekistan (UzDaily.uz) — Uzbek President Shavkat Mirziyoyev met with Franklin Templeton President and CEO Jenny Johnson in Samarkand on 19 October to discuss the results of state-owned enterprise transformation, preparations for new companies to enter the stock market, and further development of Uzbekistan’s National Investment Fund.
The meeting noted that the listing of shares in the National Investment Fund of Uzbekistan on the London and Tashkent stock exchanges marked the first international initial public offering (IPO) in the country’s history. The offering raised nearly US$700 million, with investor demand exceeding the number of shares offered by more than four times.
The next stage will focus on transforming companies in the fund’s portfolio. The work is expected to help improve public welfare and enhance the reliability and quality of services provided.
The sides also emphasised the importance of expanding Uzbek citizens’ participation in future share offerings to give the public more opportunities to invest.
The participants discussed preparations for major companies to launch IPOs and efforts to improve the professional skills of their executives. They also considered prospects for Franklin Templeton’s involvement in the development of the Tashkent International Financial Centre.
