Prospects for Expanding Cooperation with Franklin Templeton Discussed

On October 19, President Uzbekistan Shavkat Mirziyoyev received Jenny Johnson, President and Chief Executive Officer of Franklin Templeton.

The meeting reviewed the initial results of ongoing efforts to transform major state-owned enterprises.

It was noted that the listing of shares in the National Investment Fund of Uzbekistan on the London and Tashkent stock exchanges marked the country’s first international initial public offering. The offering raised nearly $700 million, with demand exceeding the number of shares available by more than four times.

The next phase will focus on transforming companies within the Fund’s portfolio to improve public well-being and enhance the reliability and quality of services. The importance of expanding public participation in future share offerings was also emphasized.

The meeting also covered preparations for IPOs by major companies, professional development for their management teams and Franklin Templeton’s potential involvement in the Tashkent International Financial Center.