Uzbek Logistics Giant Centrum Holding Prepares London IPO
Uzbekistan's largest private logistics group, Centrum Holding, is preparing for an initial public offering (IPO) on the London Stock Exchange. The company has been in talks with Citigroup and JPMorgan Chase & Co. over preparations for the listing.
Centrum's business is consolidated under a holding structure registered in the Dubai International Financial Centre (DIFC). According to the company's co-founder and CEO, Abdulaziz Abdurakhmanov, Centrum Holding is valued at around $2 billion.
The planned IPO could take place as early as next year. In February, it was reported that US investment firm Oppenheimer and Citibank had reached an agreement to advise on Centrum Holding's IPO. At the time, the company's estimated valuation was also around $2 billion, while the planned fundraising was approximately $600 million through the sale of about 30% of its shares.
Centrum Holding's potential entry into international capital markets comes amid Uzbekistan's ongoing efforts to promote privatization and develop market mechanisms. In addition to Centrum, fintech company Uzum and retail chain Korzinka have previously announced possible IPO plans.