BAKU, Azerbaijan, October 19. Uzbekistan is
moving forward with plans to transform major state-owned
enterprises and prepare additional companies for initial public
offerings (IPOs) following the country's first international IPO,
President Shavkat Mirziyoyev said during a meeting with Franklin
Templeton President and CEO Jenny Johnson in Samarkand on October
19.
This was reflected in the statement by the press service of the
Uzbek president.
The meeting focused on preliminary results of the ongoing
transformation of large state-owned companies, according to the
Uzbek president's press service.
The sides noted that the listing of shares in the National
Investment Fund of Uzbekistan on the London and Tashkent stock
exchanges marked the country's first international IPO. The
offering attracted nearly $700 million, with demand exceeding
supply by more than four times.
The next phase will focus on transforming companies within the
fund's portfolio, with the goal of improving public welfare and
increasing the reliability and quality of services, the statement
said.
Moreover, the sides emphasized the importance of expanding
public participation in future share offerings, allowing more
citizens to invest in the country's businesses.
The discussions covered preparations for major companies to
enter public markets, professional development for their management
teams and Franklin Templeton's potential involvement in the
Tashkent International Financial Center.
Franklin Templeton is a global investment management firm that
provides investment strategies and asset management services to
individuals, institutions and governments. Its involvement in
Uzbekistan's National Investment Fund is part of the country's
broader effort to improve corporate governance, attract
international capital and expand private investment in state-owned
enterprises.
