Uzbekistan's largest private logistics group, Centrum Holding LLC, is in talks with Citigroup Inc. and JPMorgan Chase & Co. for a potential London initial public offering as early as next year. The Dubai, DIFC-based holding company, co-founded by Abdulaziz Abdurakhmanov, controls approximately 40% of Uzbekistan's air cargo market and up to 30% of passenger aviation, with ambitions to increase that share to 50%. Centrum's press service confirmed the IPO is one option for strategic development.

The offering follows Uzbekistan's debut on the London Stock Exchange this year with a $674 million share sale by the Uzbekistan National Investment Fund. Other private firms, including fintech group Uzum and food retailer Korzinka, are also considering listings as the country pushes toward a market-led economy. Citi and JPMorgan are among the few international banks with representative offices in Uzbekistan.

Centrum is expanding multimodal cargo terminals along the Middle Corridor linking China and Europe, while growing its rail-wagon and truck fleets and developing Caspian Sea freight ferry services.