TEG Becomes the First Uzbek Company to Enter the U.S. Public Market
Business
Uzbekistan’s Tourism and Entertainment Group (TEG) has become the first company from the country to have its shares traded on the U.S. public market. The company announced the completion of its business combination with American firm StageWise Strategies Corp. The combined public company will operate as TEG Overseas, Inc., with its common stock trading on the OTC Markets over-the-counter market.
For TEG, the transaction marks a significant stage in its development and creates an opportunity to draw international investor attention to Uzbekistan’s tourism and hospitality sectors. In its statement, the company emphasised that entering the U.S. market is about more than raising capital: it is also an opportunity to represent Uzbekistan on the global business stage.
The milestone reflects years of work by the team, professional dedication and confidence in the potential of Uzbek business. The company views the transaction as a way to broaden its growth prospects and demonstrate the capabilities of domestic enterprises to the international community.
The statement also highlighted the changes taking place in Uzbekistan under the leadership of President Shavkat Mirziyoyev. According to the statement’s authors, ongoing reforms are creating new opportunities for local businesses, helping them enter international markets and compete globally.
TEG operates in hospitality, tourism and events. Its portfolio includes Hilton Tashkent City, Wyndham Bukhara and the Central Asian Expocenter (CAEx).
The company expects its entry into the public market to support its future development plans. The statement also expressed hope that TEG would be the first of many Uzbek companies to follow a similar path, opening up new opportunities for businesses from the country.
The transaction therefore marks a new stage for TEG and a significant step in expanding the presence of Uzbek business in the U.S. financial market.
The milestone reflects years of work by the team, professional dedication and confidence in the potential of Uzbek business. The company views the transaction as a way to broaden its growth prospects and demonstrate the capabilities of domestic enterprises to the international community.
The statement also highlighted the changes taking place in Uzbekistan under the leadership of President Shavkat Mirziyoyev. According to the statement’s authors, ongoing reforms are creating new opportunities for local businesses, helping them enter international markets and compete globally.
TEG operates in hospitality, tourism and events. Its portfolio includes Hilton Tashkent City, Wyndham Bukhara and the Central Asian Expocenter (CAEx).
The company expects its entry into the public market to support its future development plans. The statement also expressed hope that TEG would be the first of many Uzbek companies to follow a similar path, opening up new opportunities for businesses from the country.
The transaction therefore marks a new stage for TEG and a significant step in expanding the presence of Uzbek business in the U.S. financial market.
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