Kazakhstan Chamber of Commerce in the USA

KazCham


Kazakhstan hopes to lure stock investors with relaxed rules and privatisations

Posted on February 14, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Kazakhstan hopes to attract foreign investors to its stock market by relaxing regulations and offering stakes in some of its biggest companies.

The Central Asian nation has long struggled to create a liquid and efficient stock market that could provide Kazakhs with additional investment opportunities and help local companies raise capital.

“Over the last few months the National (central) Bank has adopted a series of regulations aimed at liberalising the stock market rules and creating favourable conditions for investors and issuers,” said Maria Khajiyeva, director of the securities market supervision department at the central bank.

Khajiyeva was speaking at a meeting with officials from the London Stock Exchange and the investment banking arm of Barclays, and explained that the Kazakhstan Stock Exchange now allows foreign investors to trade on its platform without setting up offices in Kazakhstan.

She added that the bourse also hoped foreigners would be attracted by public offers of stakes in Kazakhstan’s biggest companies.

The Kazakh government, whose finances have been hit hard by the oil price crash, plans to float companies such as state oil firm KazMunayGaz, its flagship air carrier Air Astana, leading telecommunications operator Kazakhtelecom and railway company Kazakhstan Temir Zholy, within the next four years.

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