Visor Capital - The Premier Investment Bank in Kazakhstan
Register | Customer Login |   Language: EN /RU
Visor Capital - The Premier Investment Bank in Kazakhstan
home / News / Latest News
Press Releases
Media Coverage
Events
News Room
Press Materials

KASE mandated financial advisers for the placement of shares

Almaty. 19 November 2007.

Kazakhstan stock exchange (KASE) notifies that based on the results of a tender (10 – 28 October 2007) devoted to identifying a financial adviser on the share offering, the consortium of “VISOR Capital “ and “Centras Securities” have won this tender and were named to act as financial advisers to KASE on the share placement.

Background

At the end of August 2007, KASE shareholders decided to commercialize the stock exchange. KASE shares will be split 1:1000 to have a total of 5 ml shares in order to provide for a broader involvement of Investors. According to the current laws existing shareholders are entitled to exercise preemptive rights. 

As of the date of publication, KASE has 450 authorised and outstanding shares.

In line with the above, Kazakhstan regulatory Agency (FSA) amended laws enabling KASE to derive profit and expand its shareholding structure. Moreover, stake of each shareholder, including its affiliates is limited to 5%. Meanwhile, state owned agencies (e.g. RFCA) can hold up to 25% interest in KASE.

Founded in late 1993 KASE had 78 shareholders at the end of August 2007, including the National Bank of Kazakhstan as a major shareholder (12.36%).

Source: Interfax Kazakhstan, KASE


News

© 2006 Visor Capital. All rights reserved.