Uzbekistan's National Investment Fund Completes $604M IPO on London and Tashkent Exchanges

Deal Summary

Uzbekistan’s National Investment Fund (Uznif) completed its dual listing on the London and Tashkent stock exchanges, raising $604 million and valuing the fund at $1.95 billion. The Ministry of Economy and Finance sold 31% of its stake, while cornerstone investors including BlackRock and Franklin Resources bought around $300 million of shares.