Uzbekistan is preparing to launch its first-ever initial public offering in London, with the national investment fund UzNIF expected to proceed ahead of other major state-owned companies, according to people familiar with the matter The offering — planned for both London and Tashkent — could begin as early as the first quarter of next year, marking a significant milestone in the country’s push to attract foreign capital
Work on the parallel IPO of Navoi Mining & Metallurgical Co , one of the world’s largest gold producers, has slowed, the sources said Despite an April presidential decree calling for Navoi to list in London by the end of this year, officials now view that timeline as unlikely given ongoing internal discussions and the strategic sensitivity of the company
