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The proposed IPO of The National Investment Fund represents a defining moment for Uzbekistan’s capital markets. We have built a diversified portfolio, including some of the nation’s most strategic assets, governed by international standards and managed with a singular focus: to unlock value. This offering is your gateway to participating in the rapid modernization and robust growth of one of Central Asia’s most dynamic economies"

The IPO is expected to consist of two tranches:

  • an offering of Offer Shares to eligible institutional investors in Uzbekistan and certain other jurisdictions and eligible retail investors who are citizens of Uzbekistan or certain other jurisdictions (the “Domestic Offering”).
  • An offering of global depositary receipts outside of Uzbekistan to certain eligible institutional investors, to be listed on the London Stock Exchange (the “International Offering”).

A description of the eligibility criteria for each tranche of the IPO will be included in the  offering documentation when available.

 
Marius Dan
CEO, Central Asia, Templeton Global Investments

Domestic Offering of Shares

The domestic offering will only be available to certain categories of eligible institutional and retail individual investors.

Institutional investors
Eligibility:

Retail individual investors
Eligibility:

  • Individuals who are citizens of Uzbekistan or certain other jurisdictions.
  • Individuals who are U.S. persons, nationals of the Russian Federation or the Republic of Belarus, including individuals who are nationals thereof and another country, natural persons residing in the Russian Federation or the Republic of Belarus, or individuals acting as a representative of any legal person, entity or body established in the Russian Federation or the Republic of Belarus, are not permitted to participate in the Domestic Offering.

Only retail individual investors meeting the eligibility criteria above should access the Domestic Offering page.