Uzbekistan eyes Oppenheimer’s support for IPOs and bond placements

The issue was discussed during a meeting on 23 January between Deputy Minister of Investment, Industry and Trade Akram Aliev and John Tonelli, Managing Director, Head of Debt Capital Markets at Oppenheimer and Co. Inc., a subsidiary of Oppenheimer Holdings, Inc. The talks were also attended by Uzbekistan’s ambassador to the United States, Furkat Sidikov.

According to the ministry, the sides exchanged views on the development of Uzbekistan’s financial markets, financing of priority investment projects, and opportunities for Uzbek companies to access international capital markets. Particular attention was paid to mechanisms for conducting IPOs and issuing debt instruments, including sovereign and corporate bonds.

The discussions also covered potential financing for projects in infrastructure, industrial production, energy, and other priority sectors. In addition, the parties considered steps to prepare private Uzbek companies to work with international investors and meet global market requirements.

Following the meeting, MIIT and Oppenheimer agreed to continue dialogue, expand practical cooperation, and jointly explore promising areas of collaboration.

Oppenheimer has already established a presence in Uzbekistan’s investment landscape. In September 2025, the U.S. firm signed a partnership and cooperation agreement with private airline Centrum Air, aimed at preparing the carrier for a potential public listing.

The company is also planning to finance three major projects in the Andijan region with a total value of $1.2 billion. These include a $180 million textile industrial zone, a $20 million artificial lake project in Khanabad, and the large-scale “New Andijan” (Babur) development project estimated at $1 billion.