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Uzbekistan Unlocks Dual Listings for Capital Market Growth
23 Dec
Summary
- Companies can now pursue dual listings and issue foreign currency bonds.
- The new rules aim to attract at least $1 billion in stock market investments.
- Uzbekistan targets doubling its GDP to $200 billion by 2030.
Uzbekistan has introduced new measures to invigorate its capital market and draw in substantial investment. Companies can now pursue dual listings, allowing their securities to be traded on both local and international exchanges simultaneously. This initiative also permits the issuance of bonds denominated in foreign currencies, which can be serviced and redeemed domestically.
These regulatory changes, enacted via a decree signed on December 18, are designed to improve the country's investment climate and set ambitious targets through 2030. The government aims to attract at least $1 billion in stock market investments and facilitate the issuance of at least 5 trillion sum in corporate bonds.
The move is part of a broader strategy to double Uzbekistan's gross domestic product to $200 billion by 2030. Authorities are also enabling trading of foreign company shares listed on major global indices on domestic platforms, further integrating Uzbekistan into the global financial system.
