The government’s stake in the national postal operator Uzbekistan Post (UzPost) has been sold to the Russian marketplace Wildberries.
As per the 2025 privatization program, UzPost’s 29.4% stake owned by Aloqabank was due to be put up for public auction.
In June, changes were made to the UzPost’s affiliated persons list. Aloqabank, the Ministry of Economy and Finance, and legal entities owned by the Ministry of Economy and Finance with more than 20% stake were removed from the list.
Instead, to the list were added the Government Assets Management Agency, legal entities in which SAMA owns more than 20% of the authorized capital, and the Uzbekistan National Investment Fund (UzNIF). Each of these new affiliated persons owns at least 20% of UzPost shares.
By the September 19 presidential decree, the government-owned stake in UzPost (25%), which was on the balance sheet of the National Investment Fund, was transferred to the State-Owned Assets Management Agency.
Capital increase before the transaction
In June (when the list of affiliates was amended), a decision was made to place shares via private subscription. The issue was registered on September 26.
A total of 7,615,444 shares (27.8% of the total number of shares) were issued worth 14.5 billion soums at a par value of 1,905 soums each. Thus, the company's authorized capital was increased from 38.06 billion to 52.56 billion soums.
The securities were paid through the transfer of buildings and structures (a total of 50 post offices in Tashkent totally valued at 77.3 billion soums) to UzPost’s ownership. In other words, 50 buildings that belonged to the Tashkent city mayor’s office were transferred to the balance of the Uzbekistan Post right before the "privatization.
The market capitalization is now estimated at 285.9 billion soums.
At the time of publication, neither the State-Owned Assets Management Agency (SAMA) nor UzPost had officially commented on the transaction.
Uzbekiston Post is the national postal operator of Uzbekistan, founded in 1992 and transformed into a joint-stock company in 2014. Today, the company has 14 provincial offices, 1,602 post offices, over 3,500 delivery sites, serves over 7,000 employees, including over 2,500 postal workers, and operates 25 air routes and over 300 road networks. UzPost is a member of the Universal Postal Union and actively works with the international postal systems IFS, PNG, RUGBY, IBIS, and PRIME. In addition to mail and parcel delivery, the company provides payment services, subscriptions, financial transfers, and issues postage stamps.
The company ended 2023 with a net profit of 809.7 million soums, and 2024 with a figure of 843.9 million soums with revenue of 603.5 billion soums.
