Today the international conference “Tapping international capital markets” organised by the Astana International Financial Centre conjointly with BNY Mellon, FTI Consulting and international law firm Kinstellar was held in Astana.
Kairat Kelimbetov, Governor of the AIFC, Ulf Wokurka, Foreign Investor’s Council chaired by the President of Republic of Kazakhstan, Abai Alpamyssov, CFO and Member of Board of Kazmunaigas Drilling&Services, as well as representatives of Credit Suisse, KazAtomProm, and international companies and financial institutions participated in the conference.
The event became such a platform for communication between experts and analysts in the field of investment and development of stock markets.
Within the framework of the conference, Kairat Kelimbetov told audience about the main strategic directions of the development of the AIFC, which will help to attract investments to the economy of Kazakhstan. They are: capital market, asset management, private banking, Islamic finance and the development of financial technologies.
In addition, K. Kelimbetov shared the information about Astana International Exchange (AIX), which will be launched in autumn this year. Securities of the leading companies of SWF Samruk-Kazyna JSC and Kazakhstan will be listed on the AIX.
«The initiative of the Head of State to privatize the largest companies of national companies which are part of SWF Samruk-Kazyna JSC is a very good chance for the development of the stock market. Therefore, we will develop in this direction», K. Kelimbetov said.
During the conference, two panel sessions were held, where participants examined the investment cases of Kazakhstan in terms of new opportunities and challenges, and advanced corporate governance practices. Reports on “Engaging international investor audiences for a successful IPO” and “Depository receipts: a universal investment instrument” were also heard during the event.
James Kynge, a well-known journalist, Emerging Markets Editor at Financial Times, presented his report on “Kazakhstan privatisation strategy – is success guaranteed?”
In addition, a meeting with the participants of the programme "Leaders of Competitiveness – National Champions" was organised with the assistance of the National Managing Company "Baiterek" and Tengri Partners. Representatives of private Kazakhstani companies were informed about the possibilities of conducting an IPO on the domestic market, in particular, about services provided on the new exchange of the AIFC and necessary preparatory work for the initial placement of shares of Kazakhstani companies.
The listing of private Kazakhstani companies on the domestic stock market will promote the growth of companies, and enhance their investment attractiveness.
The development of the local capital market is one of the main strategic directions of the AIFC. The formation of a liquid capital market of Kazakhstan will attract additional foreign investment and accelerate the growth of the national economy. In addition, the development of the capital market will create a significant addition to the banking system.
AIFC. In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional law “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in post-Soviet region Common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.
The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, develop local capital markets, ensuring their integration with the international capital markets, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.
FTI Consulting is an independent global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. Individually, each practice is a leader in its specific field, staffed with experts recognized for the depth of their knowledge and a track record of making an impact.
The Bank of New York Mellon is an investments company, which provides investment management, investment services and wealth management that help institutions and individuals succeed in markets all over the world. The Bank of New York Company, Inc. merges with Mellon Financial Corporation in 2007. A client-first mentality and a combined 375 years of experience make the two legendary institutions a winning team as one BNY Mellon. The Bank of New York Company has $29.9 trillion assets under custody and/or administration, and $1.6 trillion assets under management.