# The IPO is the first foray into global equity markets for an Uzbek state-backed entity.

*business · news · 2026-04-16 · MarketScreener*

## Key points

- Uzbekistan's National Investment Fund signed cornerstone agreements with BlackRock and other major global funds.
- The Fund is proceeding with an initial public offering on both the London and Tashkent stock exchanges.
- Cornerstone agreements amount to approximately $300 million in global depositary receipts.
- This IPO marks the first global equity market entry by an Uzbek state-backed entity.
- The fund holds minority stakes of 25% to 40% in 13 diverse state-owned enterprises.

**Companies:** BlackRock, Franklin Resources, Redwheel
**Countries:** Uzbekistan

[Read the full story on MarketScreener](https://www.marketscreener.com/news/uzbek-fund-secures-cornerstone-agreements-with-funds-including-blackrock-for-london-ipo-ce7e50dddd8af327)

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