BAKU, Azerbaijan, December 17. Uzbekistan is keen to expand its financial market capabilities through Initial Public Offerings (IPOs) and Eurobonds in the UK, Ambassador of the UK to Uzbekistan Timothy Smart told Trend.
“There have been recent issuances by Navoi Mining and Metallurgical Company, Agrobank, and the National Bank for Foreign Economic Activity of Uzbekistan at the London Stock Exchange (LSE),” the ambassador said.
He noted that Uzbekistan debuted its first-ever green bonds on the London Stock Exchange, valued at 4.25 trillion soums ($329.9 million). The proceedings from Eurobonds will be used to implement the goals of the Uzbekistan-2030 strategy, as well as the transition to a green economy and reforms in the energy sector. The UK is pleased to be a close partner on this initiative.
“Additionally, in November 2024, our team in Tashkent took a business delegation to the London Stock Exchange, including major state-owned enterprises as well as private companies. The visit to LSE was a great example of sharing best practices and fostering partnerships as Uzbekistan prepares for upcoming IPOs and Eurobonds,” Timothy Smart emphasized.
According to him, Uzbekistan has a strategic vision of integrating into the international financial ecosystem and advancing its economic growth through capital market participation.