Tencent-backed Uzbek start-up Uzum expects IPO within 2-3 years

Tencent-backed (0700) fintech and e-commerce provider Uzum, Uzbekistan's most valuable startup, expects to make its initial public offering (IPO) within two to three years, founder Djasur Djumaev told Reuters on Wednesday.

Uzum, which secured US$70 million (HK$546 million) in equity financing led by China's Tencent and US firm VR Capital in August, is valued at US$1.5 billion.

Asked about the timing for the IPO, founder Djumaev said: "There is a medium-term perspective of 2-3 years."

Reuters previously reported that the company was considering London, alongside New York, Abu Dhabi and Hong Kong for its capital markets debut, which had been anticipated in 2027.

Reuters

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