Uzbek Unicorn Uzum Plans IPO in 2027

Tashkent, Uzbekistan (UzDaily.com) — Uzum, Uzbekistan’s largest startup and the country’s first unicorn, is considering London as one of the possible venues for its initial public offering (IPO) planned for 2027.

According to Reuters, Nikolai Seleznyov, co-founder of the fintech and e-commerce company Uzum, backed by China’s Tencent, said that the London Stock Exchange is among the potential options for the company’s debut on the international capital market.

In August, Uzum raised US$70 million in an equity funding round involving Tencent and the US-based fund VR Capital, valuing the company at US$1.5 billion. Alongside London, the startup is also exploring Nasdaq in New York, as well as Abu Dhabi and Hong Kong stock exchanges.

Seleznyov noted that it is too early to discuss the target share price, adding:

“If we decide to list on the London Stock Exchange, we will certainly look toward the FTSE 100 index.”

He emphasized that Uzum intends to strengthen its position in the domestic market before expanding abroad:

“I’m against overly rapid geographic expansion. We want to firmly establish ourselves in Uzbekistan and show partners that we can build a system that works efficiently not only here, but beyond the country as well.”