Ministry of Economy and Finance of the Republic of Uzbekistan

On 18 May 2026, an important milestone in Uzbekistan’s economic development was achieved — the initial public offering (IPO) of shares of the Uzbekistan National Investment Fund (UzNIF) was successfully conducted on the London Stock Exchange.

This IPO represents one of the largest capital market transactions in Uzbekistan’s modern economic history carried out on an international stock exchange. It is widely regarded as a practical outcome of the country’s ongoing economic reforms, including the expansion of market-based mechanisms, the enhancement of corporate governance standards, and sustained efforts to improve the investment climate.

During the placement process, strong interest was demonstrated by international investors. In particular, demand for UzNIF shares exceeded the offering size by more than four times, with total orders reaching nearly USD 3 billion.

These results reflect the growing confidence of international institutional investors in Uzbekistan’s economy and highlight the country’s increasing recognition as a promising and stable destination for long-term investment.

Furthermore, this achievement stands as a key result of the comprehensive economic reforms being implemented under the leadership of the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, aimed at strengthening the principles of openness and transparency, transforming state assets, and accelerating integration into global financial markets.

The successful listing of UzNIF shares on the London Stock Exchange is expected to further enhance Uzbekistan’s international investment attractiveness, support the development of the national capital market, and strengthen the country’s position in the global financial arena.