The IPO of Uzbekistan’s National Investment Fund, managed by Franklin Templeton, has raised more capital than all previous IPOs in the country over the past 30 years combined, according to Marius Dan, Templeton Global Investments’ head for Central Asia. The transaction shifts the spotlight to the next phase of developing Uzbekistan’s financial market.
Julia Hoggett, CEO of the London Stock Exchange, told Euronews: “Investors primarily want to know that they can invest their money and also get it back.” She stressed that investors first look at fundamentals such as currency stability, inflation, and growth before assessing the regulatory framework.
Uzbekistan is working on new financial laws to broaden the range of financing options. Laziz Kudratov announced that the law establishing the Tashkent International Financial Centre is expected to be signed soon. The project envisions a separate legal system based on common law and aims to provide an international legal framework for foreign financial firms.
Dan expects Uzbekistan’s capital market to need more listed companies, higher liquidity, and additional foreign institutional investors in the coming years. The domestic bond market is also gaining attention as retail investors scrutinize investment opportunities within the country more closely.
Source: de.euronews.com
