Centrum Holding Plans to Float Up to 30% of Shares

Tashkent, Uzbekistan (UzDaily.com) — Centrum Holding intends to place up to 30% of its shares in free float, the holding's press service has announced.

According to the company, preparations for entering public capital markets became one of the key items on the agenda during Uzbekistan President Shavkat Mirziyoyev's recent visit to Washington. During the visit, holding representatives participated in the signing ceremony for bilateral documents and a presentation of joint investment projects.

The proceeds raised from the share placement are earmarked for infrastructure modernization, expansion of operational capacity, and fleet development.

In line with its development strategy through 2029, Centrum Holding aims to build a fleet of up to 100 aircraft.

Oppenheimer & Co., in partnership with Citibank, are acting as strategic advisers and underwriters on the project.

Following the meeting, the parties reaffirmed their commitment to developing a long-term partnership and continuing collaborative work on investment initiatives.

The holding will press ahead with its investment program focused on developing aviation, cargo, and ground logistics infrastructure, which is expected to strengthen the country's overall transport capacity.

It is worth noting that Oppenheimer Managing Director John Tonelli previously indicated that the IPO is expected to value the company at two billion US dollars, which would make Centrum Holding one of the most valuable companies in Central Asia.