TEG SPV LLC (“TEG”), an integrated hospitality, tourism and events business based in Uzbekistan, has entered the U.S. public markets, becoming the first company from Uzbekistan to be publicly traded in the United States.
The historic milestone opens a new chapter for TEG as it seeks to expand its business, reach a broader international investor community and pursue new opportunities for growth. It also represents a significant moment for Uzbekistan and the country’s growing participation in international capital markets.
A new platform for growth
TEG’s entry into the U.S. public markets provides the company with a new platform to pursue its long-term growth strategy. As a public company, TEG intends to leverage access to the U.S. capital markets to support future acquisitions and broaden its offerings across hospitality and meetings, incentives, conferences and exhibitions.
The milestone also comes at a time of growing international interest in Uzbekistan. As the country deepens its engagement with international markets and continues developing its tourism sector, TEG sees an opportunity to introduce both its business and the broader Uzbekistan growth story to new investors and partners around the world.
To discuss the significance of the milestone and what comes next for TEG, Irodakhon Abduvakhitova, Non-independent Director and Investor in TEG, shares her perspective on the company’s growth, its relationship with AKFA and its long-term ambitions.
Q&A with Irodakhon Abduvakhitova, non-independent director and investor in TEG
TEG – Irodakhon Abduvakhitova
To see the full interview with Ms. Abduvakhitova, visit tegcompany.com.
Q: What does it mean to see TEG become the first Uzbekistan company traded in the United States?
A: This is an incredibly proud moment for everyone involved with TEG. Becoming the first company from Uzbekistan to enter the U.S. public markets is a historic milestone, not only for our company, but for our country.
For TEG, it gives us a new platform to reach international investors, build new partnerships and pursue our growth ambitions. But I also hope it demonstrates what is possible for other Uzbek businesses. Uzbekistan has changed tremendously over the past decade, and today we are showing that companies from our country can participate in the world’s largest and most sophisticated capital markets.
Q: How does TEG’s relationship with AKFA contribute to the company’s development?
A: AKFA has been an important strategic partner throughout our journey. Its experience, resources and established business ecosystem have provided a strong foundation for TEG’s development and helped us reach where we are today.
At the same time, TEG has developed its own clear strategy and ambitions. The independent directors on our Board play an important role in providing oversight, holding management accountable for our progress and helping ensure that we uphold the commitments we make to shareholders.
Looking ahead, we will continue to benefit from our longstanding relationship with AKFA and the resources, capabilities, and relationships of its broader business ecosystem as we broaden our business and execute our strategy as a U.S.-traded company.
Q: What would you like investors and stakeholders to know about TEG’s long-term vision?
A: We see today as the beginning of a new phase for TEG. Being the first Uzbekistan company to enter the U.S. public markets is both an achievement and a great responsibility.
We aim to deliver sustainable growth, transparency, strong governance and long-term value for our shareholders, while also showcasing the tremendous potential of tourism in Uzbekistan.
Ultimately, we want to build TEG into a company that can connect Uzbekistan more closely with international travelers, businesses, investors and partners.
Q: What excites you most about TEG’s future?
A: For me personally, and for the entire team, today is an incredibly important milestone. We are exceptionally proud to be first private company from Uzbekistan to be publicly traded in the United States.
But what excites me most is what this moment could represent for Uzbekistan. I hope our listing helps open the door for other Uzbek companies to access U.S. and broader international markets.
The growing relationship between the United States and Uzbekistan, strongly supported by President Shavkat Mirziyoyev, reflects the country’s commitment to economic reform and international engagement. Under the leadership of President Mirziyoyev, Uzbekistan has opened its doors to the world, strengthening international ties and creating new opportunities for tourism, investment and economic growth. His focus on developing tourism, preserving our rich cultural heritage and modernizing infrastructure is helping introduce the world to the New Uzbekistan.
What seemed almost impossible 10 years ago is now a reality. Today marks a new chapter for TEG and, we hope, an important milestone for Uzbekistan. We are incredibly proud to represent both our company and our country. For TEG, this creates an exciting platform to build new partnerships, connect with global investors and take our business to the next level.
Looking ahead
TEG’s entry into the U.S. public markets represents the beginning of its next phase of growth. The company intends to use its new public-market platform to pursue acquisitions, broaden its offerings and capitalize on opportunities across Uzbekistan’s growing hospitality and tourism sector.
Looking ahead, TEG is focused on executing its growth strategy, strengthening its position in the market and creating long-term value for shareholders as it begins this new chapter as a U.S.-traded company.
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