UzNIF shares see steady trading in first two months after IPO

Tashkent, Uzbekistan (UzDaily.uz) —  The first two months following the initial public offering (IPO) of UzNIF showed steady trading activity, with 30,875 transactions worth 43.55 billion soums executed on the stock exchange between 18 May and 20 July 2026.

The number of investors reached 6,244, while the share price ranged from 5.07 to 7.50 soums. The fund's net asset value (NAV) stood at 31.67 trillion soums as of 30 June, up 9.2% following the revaluation of portfolio assets. The fund's largest holdings made a significant contribution to the increase in NAV.

UzNIF previously placed 47.94 billion shares in its IPO on the Republican Stock Exchange "Toshkent." A total of 4,943 transactions worth 214.61 billion soums were completed during the offering.

Between 18 May and 20 July 2026, 30,875 transactions involving 7.72 billion UzNIF shares were executed on the Republican Stock Exchange "Toshkent," with a total value of 43.55 billion soums.

By the end of the reporting period, the number of investors trading UzNIF shares had reached 6,244, indicating continued investor interest following the completion of the IPO.

During the reporting period, the share price fluctuated between 5.07 and 7.50 soums. The highest closing price, 5.80 soums, was recorded on 21 May, while the lowest closing price, 5.45 soums, was recorded on 20 July.

Trading in UzNIF's global depositary receipts (GDRs) also continued on the London Stock Exchange. During the reporting period, GDR prices ranged from US$27.01 to US$34.50.

According to UzNIF's report, the fund's net asset value reached 31.67 trillion soums, equivalent to US$2.63 billion, as of 30 June 2026. Net asset value per share stood at 6.2659 soums.

Following the mid-year revaluation of the fund's portfolio companies, the value of its holdings increased by 2.7 trillion soums, contributing to a 9.2% rise in the fund's net asset value.

The largest positive contributions to NAV growth came from National Electric Grids of Uzbekistan JSC (5.2%), Uzbektelecom JSC (4.5%), Thermal Power Plants JSC (3.5%), Uzpromstroybank JSC (1.2%), and Regional Electric Grids JSC (1.0%).

The five largest assets in the fund's portfolio — Uzbektelecom JSC, Uzbekistan Airways JSC, Uzpromstroybank JSC, Uzbekhydroenergo JSC, and Temiryulinfratuzilma JSC — accounted for 71.59% of the fund's net asset value.

According to the report, the results of the first two months indicate the formation of stable trading activity in the secondary market for UzNIF shares.

The report also notes that the increase in net asset value and the revaluation of portfolio companies are important fundamental factors in assessing the market performance of the fund's shares.