Uzbekhydroenergo Capital Raised to 785 Billion Soums

Tashkent, Uzbekistan (UzDaily.com) — The charter capital of the state-owned company Uzbekhydroenergo has been increased to 785 billion soums following the registration of an additional share issuance and the transfer of a state stake in a related sector enterprise, according to data from the National Agency for Perspective Projects.

On April 27, the regulator registered the issuance of ordinary shares worth 54.05 billion soums. The securities are intended for placement among shareholders, including the Ministry of Economy and Finance and the Uzbekistan National Investment Fund (UzNIF).

The decision to expand the company’s capital was adopted on March 5, 2026. It provides for the transfer of the state’s 50.8 percent stake in Uzsuvloyiha, valued at 54.05 billion soums. The asset was appraised by the specialized valuation firm Baxolash va Konsalting Markazi.

UzNIF, mentioned among the shareholders, was established at the end of 2024 with the objectives of improving Uzbekistan’s investment attractiveness, developing the capital market, and introducing international standards of corporate governance, including IFRS and ESG principles. The fund is managed by Franklin Templeton Asset Management, registered in Uzbekistan and part of Franklin Resources, Inc.

According to an independent audit, UzNIF’s total asset value reached 2.44 billion US dollars at the end of 2025. Its portfolio includes stakes in 13 state-owned companies operating in transport, energy, telecommunications, and banking sectors.

The largest holdings include shares in Uzbekistan Airways, Uzbekhydroenergo, Uzbektelecom, and Temiryo‘linfratuzilma.