Uzbekistan's first international IPO, conducted by the National Investment Fund on the London and Tashkent exchanges, attracted nearly $700 million. Furthermore, investor demand exceeded supply by more than four times. This was reported by the president's press service.
This information was announced during a meeting between Shavkat Mirziyoyev and Jenny Johnson, President and CEO of Franklin Templeton. An IPO is the process of initially placing a company's shares for public trading. Shares of the National Investment Fund were placed on the London and Tashkent exchanges in May of this year.
During the meeting, issues regarding the reform of state-owned companies within the fund, preparing large enterprises for subsequent IPOs, and expanding citizen participation in stock trading were discussed. Additionally, possibilities for improving company management qualifications and involving Franklin Templeton in the activities of the Tashkent International Financial Center were considered.
The President also met with Rafael Santana, head of the US company Wabtec. The parties discussed the possibility of supplying new locomotives to Uzbekistan with the participation of US financial institutions, providing long-term technical maintenance, localizing component production, and training specialists. Prospects for cooperation in creating service centers for mining equipment and in the field of diesel generators were also reviewed.