ASTANA – During the official visit of the Kazakh delegation led by President Nursultan Nazarbayev to London on Nov. 3, the Kazakhstan Stock Exchange (KASE) and the London Stock Exchange (LSEG) signed a memorandum of understanding (MoU) to promote access by investors and issuers to the capital markets of Kazakhstan and Great Britain as well as to promote cooperation between the two countries, according to the KASE press service.
Areas of cooperation include attracting investors and professional participants of the securities market in order to improve the liquidity of Kazakhstan’s shares on the KASE and on the main market of the London Stock Exchange, as well as joint work on the development of activities of the KASE in the framework of creating the Astana International Financial Centre.
The memorandum was signed by head of the LSEG Nikhil Rathi and Chairman of the Board of KASE Yeszhan Birtanov.
“The MoU signed between the Kazakhstan Stock Exchange and the London Stock Exchange Group heralds an exciting new chapter for Kazakhstan’s capital markets and we are delighted to have been chosen to support KASE in its expansion plans,” Rathi said. “With 17 Kazakh companies already listed in London, the agreement holds huge potential for future business opportunities between our two exchanges and reinforces London’s position as the leading market place for global business. It also reflects LSEG’s commitment to an open access approach, supporting KASE, as it delivers on its ambition to become a major regional financial centre.”
“KASE recognizes LSEG as one of the leading stock exchanges in the world. Closer connections and cooperation between both of our exchanges will support the sustainable development of KASE in light of the focus on development of the International Financial Centre in Astana,” Birtanov added.
The Astana International Financial Centre is expected to start its full operations in 2018 after EXPO 2017. The tight cooperation between LSEG and KASE will help international investment communities discover new opportunities for investment in the Eurasian region, according to the head of KASE.