Uzbek Fund Is Said to Hold Talks With Potential IPO Cornerstones

Uzbekistan’s national investment fund is in talks to add cornerstone investors to its planned London initial public offering, according to people familiar with the matter.

The National Investment Fund of the Republic of Uzbekistan, known as UzNIF, has approached potential cornerstone investors including BlackRock Inc. to gauge their interest in participating, the people said, asking not to be identified as the information is private. An affiliate of Franklin Templeton, whose unit also manages UzNIF, is expected to be among several cornerstone investors in the offering, the people said.