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Uzbekistan’s dual-listing writes new playbook for sovereign privatisation

Kristina Shperlik
The National Fund of Uzbekistan (UzNIF) is setting a precedent for emerging markets (EM) by combining international cornerstone backing with local retail demand to establish a repeatable model for sovereign asset divestment.
Uzbekistan’s dual-listing writes new playbook for sovereign privatisation

The UzNIF sees the scale of its landmark initial public offering (IPO) as a definitive statement of the country's integration into global equity capital markets, which could become an example for other sovereign investors.

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