Deals

Uzbek State Fund Rises in London Debut After $604 Million IPO

The London Stock Exchange Group Plc office atrium in the City of London.Photographer: Hollie Adams/Bloomberg

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By Yuliya Fedorinova

May 13, 2026 at 7:25 AM UTC

Uzbekistan’s national investment fund rose in its London trading debut, after the government sold a $604 million stake.

The London-listed global depositary receipts opened at $26, after the Ministry of Economy and Finance sold 23.4 million units at a fixed price of $25 apiece, according to a statement on Wednesday. In total, the ministry sold a 31% stake in the fund, known as UzNIF, in both London and Tashkent, valuing it at $1.95 billion.