Uzbekistan Prepares Five State-Owned Companies for IPOs

On 5 November, Uzbekistan confirmed plans to list five state-owned companies through IPOs in 2027–2028: Uzbekistan Airways, National Electric Grid of Uzbekistan, Uzbekhydroenergo, Uztelecom and Uzsanoatqurilishbank. The government is preparing the companies for international capital markets, while a previous share sale from the national investment fund generated $692 million for the state budget. Individual IPO valuations and fundraising targets for the five companies have not been disclosed. The planned listings create opportunities for investment banks, transaction advisers, auditors, valuation experts and institutional investors. HPC can support investor introductions, financial advisory partnerships and cross-border corporate finance opportunities.