A tech startup from Uzbekistan, previously backed by Tencent, is now pursuing a pre-IPO financing round in Hong Kong. This move signals the company's ambitions to tap into Asian capital markets ahead of a potential public listing.

The startup, which operates in Central Asia's rapidly digitalizing economy, has caught the attention of institutional investors seeking exposure to emerging markets. With Tencent's earlier involvement lending credibility, the firm is positioning itself for what could be a significant liquidity event.

Hong Kong remains a preferred destination for companies eyeing international capital despite recent market volatility. The pre-IPO round typically allows strategic investors to enter at valuations below public market pricing, though specific deal terms haven't been disclosed.

This development reflects a broader trend where tech companies from frontier markets leverage existing relationships with Asian tech giants to facilitate their capital-raising journey. Whether the eventual IPO materializes in Hong Kong or elsewhere will depend on market conditions and regulatory approvals.

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