Tashkent, Uzbekistan (UzDaily.uz) — Uzbek technology company Uzum plans to continue attracting international investment, including from the United States, and is considering entering the eurobond market. Nikolai Seleznev, the company’s co-founder and director of strategy and business development, said this during Bloomberg interview.
According to Seleznev, an initial public offering (IPO) is not the ultimate goal of Uzum’s strategy but rather one stage in the company’s development. Uzum aims to become Uzbekistan’s first publicly listed technology company and use this milestone to advance its broader strategy.
Seleznev said both Uzbekistan and Uzum can attract capital from a range of countries. Over the past 18 months, the company has received investments from China, the United States and Gulf countries.
In his assessment, Chinese technology company Tencent’s stake in Uzum should not prevent the Uzbek company from attracting US investors amid tensions between Washington and Beijing.
The interview also addressed financing for Uzum’s lending business.
Seleznev said expanding this segment requires substantial funding, but the company sees opportunities to raise the necessary capital.
He noted that demand remains strong in Uzbekistan’s domestic market for reliable issuers, particularly those offering debt instruments denominated in the national currency.
Uzum also raises funding from development banks. The company recently announced an increase in lending in cooperation with the Eurasian Development Bank.
Issuing eurobonds remains another option under consideration.
Seleznev said the company could revisit the matter in late 2026 or early 2027.
