The number of foreign shareholders in Uzbek companies rose by 8.2% over the past year, according to the Central Depository of the country.
Individual investors have become a core driver of the surge. Over the last 12 months, 225 foreign nationals and 12 entities have invested in Uzbek public companies.
Currently, foreign investors own shares of local companies worth a total of $357.5 million. American companies and individuals have bought shares in 44 Uzbek companies. They were very active last year on the market and have even pushed Luxemburg out of the top ten countries in terms of volume of investments to the country. With $9.4 million of investments, the U.S. holds the eighth position of that rating. However, the first place in this rating is belongsing to Kazakhstan.
Kazakhstan accounts for $107 million in investments in Uzbek public companies, which is almost a third of all foreign investments in the country. In fact, there is only one big investor from Kazakhstan – Tenge Bank. As of today, the bank’s capital stock is about $106.2 million.