Uzbekistan's national wealth fund plans London IPO

Uzbekistan's national wealth fund announced its intention to float shares on the London and Tashkent stock exchanges via an IPO.

The National Investment Fund of the Republic of Uzbekistan JSC (UzNIF) said April 9 that it is evaluating the possibility of listing its ordinary shares on the main market for listed securities of the London Stock Exchange PLC and the Tashkent Stock Exchange.

The $2.44 billion wealth fund was established in 2024 by presidential decree to attract more investors, boost the local economy and capital markets, and increase foreign direct investment in the country, among other objectives. It holds minority interests in 13 state-owned companies.

UzNIF is poised to become the first major company to float on the London Stock Exchange in 2026, according to City A.M.