Uzbek Fund Secures 300 Million Dollars for London IPO
Uzbekistan’s National Investment Fund secured $300 million from BlackRock and others for its London IPO. This marks the first global listing for the country.
The National Investment Fund of Uzbekistan has finalized cornerstone agreements with several major international investment firms, including BLACKROCK INC, as it moves forward with a dual initial public offering on the London and Tashkent stock exchanges. This offering represents the first time a state-backed entity from the Central Asian nation has accessed global equity markets, a move that aligns with the country's ongoing economic liberalization.
In a statement, the fund confirmed that FRANKLIN RESOURCES INC, Redwheel, and two treasury companies wholly owned by the Allan & Gill Gray Foundation have signed cornerstone agreements. These commitments are valued at approximately $300 million and will be issued in the form of global depositary receipts.
