Key facts
- Uzbekistan has postponed planned IPOs for Uzbekistan Airways and Uzbektelecom.
- The IPOs are now scheduled for 2027.
- The delays are part of a government-led reform program.
- The program aims to prepare state-owned companies for public listing.
- Jamshid Kuchkarov announced the postponement.
Uzbekistan's Deputy Prime Minister Jamshid Kuchkarov has announced a significant delay for the planned initial public offerings (IPOs) of two major state-owned companies: Uzbekistan Airways and Uzbektelecom. These companies will now not be listed on public stock exchanges until 2027. This postponement is a component of a larger, government-led reform program designed to meticulously prepare these state-owned enterprises for the complexities and requirements of public listing.
The decision to push back the IPOs indicates a strategic shift towards a more extended timeline for privatization and modernization efforts within Uzbekistan's state-controlled sector. The government aims to ensure that Uzbekistan Airways and Uzbektelecom meet all necessary regulatory and financial standards before they are offered to public investors. This extended preparation period suggests a commitment to a thorough and potentially more successful integration into the public markets once the process is complete.