{"id":12431,"date":"2025-11-08T13:57:02","date_gmt":"2025-11-08T08:57:02","guid":{"rendered":"https:\/\/frank.uz\/bez-kategorii\/uzum-plans-a-pre-ipo-round-in-hong-kong-in-2026-followed-by-an-ipo-in-2027\/"},"modified":"2025-11-08T13:57:02","modified_gmt":"2025-11-08T08:57:02","slug":"uzum-plans-a-pre-ipo-round-in-hong-kong-in-2026-followed-by-an-ipo-in-2027","status":"publish","type":"post","link":"https:\/\/frank.uz\/en\/news-en\/uzum-plans-a-pre-ipo-round-in-hong-kong-in-2026-followed-by-an-ipo-in-2027\/","title":{"rendered":"Uzum plans a pre-IPO round in Hong Kong in 2026, followed by an IPO in 2027"},"content":{"rendered":"<h3>Why is this important<\/h3>\n<p>Uzum&#8217;s IPO in 2027 is a historic event for Uzbekistan, the first technology company on the global exchange. The $1.5 billion valuation after Tencent is recognition of Uzbekistan&#8217;s market potential by the world&#8217;s largest investors. The pre-IPO round in Hong Kong will attract Chinese and Asian investors and open the Uzbek market for international capital. Hong Kong is the IPO leader ($23.27 billion in 2025), the listing will give Uzum access to global investors, liquidity, and prestige.   <\/p>\n<h3>What happened<\/h3>\n<ul>\n<li>Uzum plans an IPO pre-round in Hong Kong in 2026, an IPO in 2027;<\/li>\n<li>In August, Tencent invested $70 million, the valuation increased to $1.5 billion;<\/li>\n<li>IPO is considered on the Hong Kong, London, Abu Dhabi, Nasdaq exchanges;<\/li>\n<li>In 2024, Uzum became the unicorn, attracting $114 million;<\/li>\n<li>Operated by Uzum Market, Uzum Tezkor, and Uzum Bank.<\/li>\n<\/ul>\n<h3>Tencent Investments<\/h3>\n<ul>\n<li><strong>$70 million in august:<\/strong> Chinese tech giant Tencent (owner of WeChat, the largest investor in games) invested in Uzum, raising its valuation to $1.5 billion.<\/li>\n<li><strong>Why Tencent: <\/strong>entering the Central Asian digital economy, portfolio diversification, access to a rapidly growing market (e-commerce +50-60% annually).<\/li>\n<li><strong>Signal for the market:<\/strong> Tencent&#8217;s investments \u2014 recognition of Uzbekistan&#8217;s potential by the world&#8217;s largest investors, opening the way for others (Alibaba, SoftBank, Sequoia).<\/li>\n<\/ul>\n<h3>Pre-IPO Round in 2026<\/h3>\n<ul>\n<li><strong>Hong Kong: <\/strong>Asian financial center, IPO leader in 2025 ($23.27 billion from 66 companies).<\/li>\n<li><strong>The goal<\/strong> is to attract capital before the IPO from Chinese, Asian, and Western investors.<\/li>\n<li><strong>Volume: <\/strong>not disclosed, but typical pre-IPO rounds of unicorns \u2014 $100-300 million.<\/li>\n<li><strong>Why:<\/strong> raise the valuation to $2-3 billion before the IPO, strengthen the balance, finance expansion (Kazakhstan, Kyrgyzstan, Tajikistan).<\/li>\n<\/ul>\n<h3>IPO in 2027<\/h3>\n<ul>\n<li><strong>Places:<\/strong> Hong Kong, London, Abu Dhabi, Nasdaq.<\/li>\n<li><strong>Estimated:<\/strong> $2-3 billion after the pre-IPO round.<\/li>\n<li><strong>Attraction: <\/strong>$300-500 million through the placement of 15-25% of shares.<\/li>\n<li><strong>Why:<\/strong> global liquidity, prestige, capital for expansion to Central Asia, CIS, product development (FinTech, logistics, AI).<\/li>\n<\/ul>\n<h3>Uzum \u2014 Super Application<\/h3>\n<ul>\n<li><strong>Uzum Market: <\/strong>the largest e-commerce platform (5+ million users) \u2014 an online store (electronics, clothing, household appliances, products).<\/li>\n<li><strong>Uzum Tezkor:<\/strong> Express delivery \u2014 delivery of goods within 1-2 hours.<\/li>\n<li><strong>Uzum Bank:<\/strong> loans (Uzum Nasiya \u2014 interest-free installment plan), transfers, ATMs, accounts.<\/li>\n<li><strong>Own infrastructure:<\/strong> banking system, payment gateways, logistics.<\/li>\n<\/ul>\n<h3>Hong Kong \u2014 IPO leader<\/h3>\n<ul>\n<li><strong>2025:<\/strong> 66 companies attracted $23.27 billion \u2014 first place in the world, surpassing Nasdaq, London.<\/li>\n<li><strong>Advantages:<\/strong> access to Chinese investors (the largest capital market), prestige, regulation (Anglo-Saxon law), liquidity.<\/li>\n<li><strong>Central Asia:<\/strong> Zijin Gold International attracted $3.21 billion (project in Kazakhstan), Jiaxin International \u2014 Hong Kong-Kazakhstan double listing.<\/li>\n<\/ul>\n<h3>Context<\/h3>\n<ul>\n<li><strong>Basis: <\/strong>2022 \u2014 became a unicorn in 3 years (estimated at $1.5 billion).<\/li>\n<li><strong>Growth of e-commerce:<\/strong> +50-60% annually due to digitalization, income growth (+19% of salary), young population (60% under 30 years old).<\/li>\n<li><strong>Competition: <\/strong>Uzum competes with OLX (buys TBC), Click, Payme, but dominates e-commerce, FinTech.<\/li>\n<li><strong>Abu Dhabi registration: <\/strong>Offshore jurisdiction to attract foreign investment, preferential taxation.<\/li>\n<li><strong>Expansion:<\/strong> plans to expand to Kazakhstan, Kyrgyzstan, Tajikistan \u2014 a market of 80+ million people.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Uzum will conduct the final round of financing in Hong Kong before the IPO. The IPO is being considered on the Hong Kong, London, Abu Dhabi, Nasdaq exchanges. <\/p>\n","protected":false},"author":4,"featured_media":11284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sharing_image":{"poster":"https:\/\/frank.uz\/wp-content\/uploads\/2025\/11\/690f0843a0f81.jpg","width":1200,"height":630,"template":"2bf59057","mode":"auto"},"_sharing_image_fieldset":{"Dv78f24rp1hU":11284,"YlB8HH34jIzY":"Uzum plans a pre-IPO round in Hong Kong in 2026, followed by an IPO in 2027"},"pin_until":"","footnotes":""},"categories":[2061],"tags":[2143,2847,2102,2125],"class_list":["post-12431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-investments","tag-ipo-en","tag-technologies","tag-uzum-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Uzum plans a pre-IPO round in Hong Kong in 2026, followed by an IPO in 2027 &#8212; Frank.uz<\/title>\n<meta name=\"description\" content=\"Uzum will conduct the final round of financing in Hong Kong before the IPO. 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