TEG completes US listing, expanding Uzbekistan hospitality and tourism portfolio

Tourism and Entertainment Group Chairwoman Anita Mendiratta joined Steve Darling from Proactive’s OTC studio in New York City to discuss the successful completion of the company’s business combination with StageWise Strategies, establishing what the company describes as the first U.S.-listed business from Uzbekistan.

The transaction was completed through a share exchange agreement under which Tourism and Entertainment Group became the principal operating business of the combined public company. The business will operate as TEG Overseas Inc., with its common shares trading on the OTC Market.

Mendiratta said the transaction represents an important milestone for the company as it seeks to connect Uzbekistan’s rapidly developing tourism and hospitality sector with international capital markets.

TEG brings an established portfolio of hospitality and events assets to the public company, including Hilton Tashkent City, Wyndham Bukhara and the Central Asian Expocenter, or CAEx.

CAEx is one of Central Asia’s larger full-service convention centers, providing infrastructure for exhibitions, conferences, business events and other large-scale gatherings.

The company’s existing portfolio generated approximately $42.9 million in revenue and $14.4 million in net income in 2025. Revenue increased 22% compared with 2024, while net income rose 215%, highlighting the growth recorded across the business.

The company is operating against a backdrop of rapidly expanding tourism activity in Uzbekistan. The country welcomed approximately 11.7 million foreign tourists in 2025, representing an increase of nearly 47% from the previous year.

Uzbekistan was also identified by UN Tourism as one of the world’s fastest-growing markets for international tourist arrivals during the first quarter of 2026, supporting the company’s focus on expanding its hospitality and tourism portfolio.

As a public company, TEG intends to leverage access to the U.S. capital markets to support future acquisitions and expand its portfolio of hospitality and meetings, incentives, conferences, and exhibitions (MICE) assets. TEG plans to pursue acquisitions across its pipeline that expand its offerings and enable the company to serve a broader range of business and leisure travelers.

TEG also intends to drive continued growth by leveraging its proven owner-operator model, deep knowledge of the Uzbek market, relationships with international hospitality brands and the development capabilities of the broad