“Capital goes where it is treated well” - President of Franklin Templeton

“Capital goes where it is treated well” - President of Franklin Templeton

On October 19, in Samarkand, Shavkat Mirziyoyev received business leaders and heads of major companies who arrived for the US-Uzbekistan Business and Investment Council meeting. In particular, at a meeting with the President and Chief Executive Officer of Franklin Templeton, the initial results of the work being carried out on the transformation of large state-owned enterprises were discussed.

It was noted that the placement of shares of the National Investment Fund of Uzbekistan on the London and Tashkent stock exchanges is the first international IPO in the country's history. As a result, nearly $700 million was raised, and demand exceeded supply by more than four times.

“The President is a visionary leader. From the very beginning, Mr. Mirziyoyev asked me to tell him only the truth and to let him know if something needed to be improved or corrected. Today's meeting was just as productive. You know, capital goes only where it is treated well. Where there is a growing economy, there is an opportunity for good financial returns. And that's why, you know, when we placed this IPO on the London Stock Exchange, it generated 4 times more interest than expected. Global investors wanted to invest. Since the IPO, it has delivered a 40% return,” says Jenny Johnson.