The AIFC Exchange and Goldman Sachs structured the transaction for 108 480 shares

The AIFC Exchange and Goldman Sachs structured the transaction for 108 480 shares

Goldman Sachs (hereinafter-GS) and Astana International Exchange Ltd. (hereinafter-AIX) have jointly structured a transaction in which Goldman Sachs International (together with its affiliates, (“GS”) has subscribed for approximately 108,480 newly issued ordinary shares (the “Shares”) corresponding to 4.1 per cent. of the total issued share capital (post-money) of AIX while simultaneously entering into a 5 year put option transactions with AIFC Authority JSC (hereinafter-AIFC) to protect GS against a decline in the value of the Shares below the purchase price.

On exercise of the put option with AIFC, AIFC will purchase all of the Shares, at the original purchase price.

 

Reference:

The Astana International Financial Centre (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 has been introduced in the AIFC. English is 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, to develop local capital markets, to ensure their integration with the international capital market, and to develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan. www.aifc.kz   

Astana International Exchange (AIX). In October 2017 during the meeting of the Board of Directors of AIFC, a decision to create AIX was taken. The main strategic partners of AIX are the Shanghai Stock Exchange and NASDAQ, which provided a technical platform. Shanghai Stock Exchange and NASDAQ are among the five largest exchanges in the world. The role of the AIX is to enable domestic and regional development, through the mobilisation of domestic resources and foreign portfolio flows. In doing so, the exchange promotes good governance through its business practices. www.aix.kz

The Goldman Sachs Group, Inc., is an American multinational investment bank and financial services company. Apart from investment banking, it offers services in investment management, securities, asset management, prime brokerage, and securities underwriting. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. The investment bank is included in the list of six largest American corporations, the most authoritative according to the results of financial forecasts, the bank's indicators are included in the Dow Jones Industrial Average.

Have a question?