China increasing its lead in robot technology use
1 day ago
Uzum, Uzbekistan's most valuable startup, has reportedly added London to its list of potential locations for an initial public offering (IPO) it aims to go ahead with in 2027.
Reuters on October 16 reported co-founder of the Tencent-backed fintech and ecommerce provider, Nikolay Seleznev, as saying that the London stock market was under consideration for the stock market debut.
Uzum is Uzbekistan’s first unicorn startup. A raising of $70mn in equity financing, led by China's Tencent and US firm VR Capital in August, provided the company with a valuation of $1.5bn.
Uzum is also looking at possible listings on New York's Nasdaq and the exchanges in Abu Dhabi and Hong Kong.
Seleznev was quoted as saying that it would be premature to comment on an IPO target price for Uzum, and as adding: "If we were to list on the London Stock Exchange, we would definitely be considering the FTSE 100."
He was further cited as stating: "I'm against doing geographical expansion too fast. We want to properly win and dominate the home market, to demonstrate to potential partners that we're capable of building a system that would outperform not only here, but somewhere else."
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