UzNIF IPO to Help Prepare Future Privatizations

Tashkent, Uzbekistan (UzDaily.uz) — The initial public offering (IPO) of the National Investment Fund of Uzbekistan (UzNIF) will generate experience intended to support the future privatization of state-owned enterprises, according to Nodirjon Djuraev, project coordinator at the Presidential Administration. Speaking at a Silk Road Finance & Technology Forum panel discussion on the Tashkent International Financial Centre, Djuraev noted that UzNIF currently manages shares in 13 state companies. While these enterprises remain state assets, working through the fund is designed to improve their corporate governance practices.

Djuraev stated that state companies will gain necessary corporate governance expertise and experience through UzNIF. Furthermore, the fund serves as a mechanism to gather operational experience ahead of subsequent privatizations, as most of the 13 portfolio companies are included in the list of entities scheduled for privatization.

Djuraev also highlighted strong interest in the UzNIF IPO from retail investors, marking the first time such a project has drawn significant participation from private investors alongside institutional ones. He noted that public participation in these offerings helps foster an equity investment culture and supports the overall development of Uzbekistan’s capital market.