00:01A celebratory opening ceremony marked the start of trading for Uzbekistan's National Investment Fund, known as OUSNEF, on the London
00:11Stock Exchange.
00:13The fund launched simultaneously in London and Tashkent through a dual-listing structure, marking the country's first international equity offering.
00:24Not only is it the first ever international IPO out of Uzbekistan, but it also opens the gates for more
00:31global investment to flow into this exciting and high-growth economy.
00:35OUSNEF was created in 2024 and includes stakes in 13 state-linked companies operating across sectors including energy, telecommunications, transport
00:46and banking.
00:47The fund is managed by Franklin Teplanton, the U.S.-based global investment company appointed to oversee the portfolio and support
00:55its international market strategy.
00:58While we celebrate in London today, OUSNEF has also begun trading on the Tashkent Stock Exchange, marking the largest local
01:06listing to date and enabling Uzbek citizens to invest directly in their country's future.
01:13According to official data, investor demand exceeded the initial offering by more than four times during the book-building process,
01:21generating more than $2.8 billion in orders from international investors.
01:26The IPO raised around $603 million and valued the fund at approximately $1.95 billion.
01:35International investors participating in the offering included BlackRock, Franklin Teplanton and Redwill.
01:43Nine years ago, Uzbekistan was still largely closed.
01:47And today we are building an economy that is competitive, investment-driven and globally connected.
01:55This IPO is not just about raising capital.
01:59It is about building trust in a new generation of Uzbek institutions.
02:03Officials and investors said the listing could open the way for future international offerings linked to Uzbek companies and capital
02:11markets.
02:12A
02:13You
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