Centrum Holding, Uzbekistan's largest private logistics group, plans to launch an initial public offering (IPO) in the first quarter of 2027. Founder and CEO Abdulaziz Abdurakhmanov made the announcement in an interview with the television channel Uzbekistan 24 following a state awards ceremony.
President Shavkat Mirziyoyev awarded Abdurakhmanov, the owner of the private airlines My Freighter and Centrum Air, with the Order of Dustlik (Friendship).
"Based on our 2026 financial results, we are expected to hold our IPO in the first quarter of 2027. Our holding company has been valued at $2 billion," Abdurakhmanov said.
He also outlined plans to expand the group's aviation fleet. Centrum Air was registered as an airline in 2023, and the group's combined fleet — cargo and passenger aircraft roughly split evenly — now totals 30 planes.
"By the end of this year, we plan to grow the fleet to 40 aircraft — we're expecting 10 more. By the end of next year, we aim to bring the fleet to 65 aircraft, and by the end of 2029, to 100. We already have contracts signed for 75 aircraft," he said.
Abdurakhmanov noted that the company has significantly expanded its footprint in Central Asia's air cargo market. "Thanks to the opportunities created for us by the president, we've become the leading cargo airline in Central Asia. There is no other cargo carrier in the entire region with a fleet of 11 or 12 aircraft," he said.
He also pointed to plans for export growth. "The president spoke at length today about exports. God willing, we aim to bring our exports to $1 billion this year," the Centrum Holding founder said.
In July, Bloomberg reported that Centrum Holding was preparing for an IPO in London. At the time, Abdurakhmanov said the company expected to be listing-ready within one to two years and viewed the offering primarily as a way to bring in investors to help scale the business.
Centrum began operations in 2019 as an air cargo carrier before expanding into passenger aviation, tourism, logistics hubs, rail freight, and port infrastructure. According to Bloomberg, the group posted $1 billion in revenue in 2025 and employs roughly 5,000 people. The company controls more than 40% of Uzbekistan's air cargo market and up to 30% of its passenger aviation market.
It was previously reported that the U.S. banks Oppenheimer and Citigroup would serve as underwriters for Centrum Holding's IPO. The offering was expected to raise around $600 million at a $2 billion valuation for the holding company. The group's investments in 2026-2027 are projected to exceed $100 million, including spending on fleet expansion, logistics infrastructure, and ground transport.
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