Uzbekistan's TEG Completes Merger with US Firm StageWise Strategies

Uzbekistan-based hospitality, tourism, and events group TEG SPV LLC announced on October 14, 2026, the successful completion of its merger with StageWise Strategies Corp. (STWI). This transaction creates the first Uzbek company to list on US markets, with TEG becoming the primary operating business of the combined publicly traded entity.

The company will operate as TEG Overseas, Inc., with its common stock trading on OTC Markets. This move is expected to position TEG to capitalize on the rapid growth of tourism in Uzbekistan and support its development projects. The merger aims to leverage long-term trends, including increasing international tourism and business travel, alongside Uzbekistan's ongoing economic development.

TEG owns and operates a portfolio of premium hotel and conference facilities in Uzbekistan, including Hilton Tashkent City and Wyndham Bukhara, as well as the Central Asian Expocenter. The company reported revenues of $42.9 million and a net profit of $14.4 million in 2025, representing significant year-over-year growth. Access to US capital markets is intended to fund future acquisitions and expansion.

Uzbekistan's tourism sector is experiencing substantial growth, welcoming nearly 47% more foreign tourists in 2025. UN Tourism identified it as one of the world's fastest-growing tourism markets in early 2026. This expansion aligns with Uzbekistan's "Uzbekistan 2030" strategy, which prioritizes tourism development, infrastructure improvements, and international connectivity.

As part of the AKFA Group, one of Central Asia's largest private conglomerates, TEG benefits from extensive resources and industry connections. This affiliation provides global reach, access to development partners, and operational efficiencies. TEG plans to utilize its public listing to finance further expansion, particularly in the MICE (Meetings, Incentives, Conferences, and Exhibitions) sector.