Uzbekistan’s National Investment Fund Lists Shares on London Stock Exchange for the First Time
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The National Investment Fund of Uzbekistan (UzNIF) has listed its shares on the London Stock Exchange (LSE) for the first time, marking the largest initial public offering (IPO) in the country’s history, Gazeta.uz reports.
Demand for UzNIF shares reportedly was four times higher than supply, demonstrating a high level of interest from global investors in Uzbekistan’s economic reforms and market opening.
IPO (Initial Public Offering) is the process of a private company selling its shares to a broad range of investors on a stock exchange for the first time. As a result, the company becomes public, gains access to capital for development, and its shares begin to trade freely. On May 18, an official ceremony of the start of trading of shares and global depositary receipts (GDR) took place in London. The event was attended by the Head of the Presidential Administration, Saida Mirziyoyeva, who noted that this event reflects the transformation of the country’s economic system.
«The participation of major international investors in our IPO, including BlackRock, Franklin Resources, Redwheel, and many others, is compelling evidence of the international community’s trust in our course, potential, and future,» Mirziyoyeva wrote in her Telegram channel.
GDR is a financial instrument that allows foreign investors to purchase a company’s shares in their own currency and on their exchanges.
The National Investment Fund of Uzbekistan (UzNIF) has listed its shares on the London Stock Exchange (LSE) for the first time, marking the largest initial public offering (IPO) in the country’s history, Gazeta.uz reports.
Demand for UzNIF shares reportedly was four times higher than supply, demonstrating a high level of interest from global investors in Uzbekistan’s economic reforms and market opening.
IPO (Initial Public Offering) is the process of a private company selling its shares to a broad range of investors on a stock exchange for the first time. As a result, the company becomes public, gains access to capital for development, and its shares begin to trade freely. On May 18, an official ceremony of the start of trading of shares and global depositary receipts (GDR) took place in London. The event was attended by the Head of the Presidential Administration, Saida Mirziyoyeva, who noted that this event reflects the transformation of the country’s economic system.
«The participation of major international investors in our IPO, including BlackRock, Franklin Resources, Redwheel, and many others, is compelling evidence of the international community’s trust in our course, potential, and future,» Mirziyoyeva wrote in her Telegram channel.
GDR is a financial instrument that allows foreign investors to purchase a company’s shares in their own currency and on their exchanges.
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