TASHKENT, May 24. /Dunyo IA/. The Bishkek-based online analytical news portal “The Times of Central Asia” published an analytical article dedicated to Uzbekistan's first international IPO process, reports Dunyo IA correspondent.

The publication emphasizes that the simultaneous listing of shares of the state-owned National Investment Fund of Uzbekistan on both the London Stock Exchange and the Tashkent Republican Stock Exchange is viewed as a major step toward the country's integration into global capital markets and the liberalization of its investment climate.

The article notes that a 31% stake in the National Investment Fund of Uzbekistan was offered to international and local investors, successfully raising 603.6 million dollars. If the over-allotment option is fully exercised, this figure could reach approximately 692 million dollars. Based on the offer price, the total value of the fund was estimated at about 1.95 billion dollars.

The publication writes that this IPO was met with great interest from international investors, with total demand for the offering exceeding 2.8 billion dollars. This indicates a steadily growing confidence in the economy of Uzbekistan and the large-scale economic reforms being implemented in the country.

According to “The Times of Central Asia”, the listing process was managed by the international investment company “Franklin Templeton”. The anchor investors included the world's major investment institutions, such as “BlackRock”, “Franklin Resources” and “Redwheel” funds. The shares were sold by the Ministry of Economy and Finance of the Republic of Uzbekistan, and the proceeds are noted to be directed to the state budget.

The article also pays special attention to the comments of Saida Mirziyoyeva, Head of the Uzbekistan Presidential Administration. Speaking at the London Stock Exchange, she emphasized that this IPO serves not only to raise capital but also to 'build confidence in a new generation of Uzbek institutions.

The publication notes that in recent years, Uzbekistan has been becoming an even more open, reliable and pragmatic partner for the global capital market. At the same time, it is highlighted that the country's economy size has increased nearly threefold and corporate governance standards and the investor rights protection system have been significantly improved.

According to analysts, the simultaneous listing of shares on two stock exchanges initiated a new stage in Uzbekistan's integration into the international financial system. This process will serve as an essential experience for future privatization programs and holds great significance in opening up the country's stock market to international investors.

The article notes that shares in 13 strategic state-owned enterprises operating in the transport, energy, banking, telecommunications, utilities and aviation sectors have been included in the structure of the Uzbekistan National Investment Fund. Among them are major national operators such as “Uzbekistan Airways”, “Uzbektelecom” and “Uzbekhydroenergo”.

According to the conclusion of “The Times of Central Asia”, this IPO served as a practical confirmation of Uzbekistan's steadily strengthening investment attractiveness, economic openness and reliable image in the international financial arena.