Franklin Templeton took on managing Uzbekistan’s national investment fund with assets worth $1.68 billion ahead of planned public listings for some of the shares it holds.
The fund is set to “focus on preparing for initial public offerings and engaging international investors through roadshows and targeted outreach,” Franklin Templeton Asset Management Foreign Enterprise LLC said in a press release on Thursday. The company also announced it had opened a new office in the capital of Tashkent.
The investment fund, known as UzNIF, owns minority stakes ranging from 20% to 40% in 18 state-owned businesses, according to the statement. Uzbekistan is ...