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Astana International Exchange Market Update Week ended 7th December

11/12/2018

Astana International Exchange announces its market operational update for the period from the 14th November to the 7th December 2018 inclusive.

Turnover for the period was KZT 2,421,765,090 (1,648 trades, 522,097 ordinary shares) of JSC “NAC “Kazatomprom” (Kazatomprom). During the same period, there were 65 trades with 40,492 global depository receipts of Kazatomprom with a turnover of US$ 499,429.07.

Weekly Trading Update

Security Nbr Trades w/ended 7th December % Change over prior week Value traded w/ended 7th December % Change over prior week Nbr Trades YTD Value Traded YTD
KAP 159 -32.6% KZT 495,475,655 -14.9% 1648 KZT 2,421, 765,090
KAP.Y 21 +75% USD 198,594.33 +294% 65 USD 499,429.07

Tim Bennett, AIX’s CEO commented:

AIX is off to a good start in terms of rebuilding liquidity and interest in the Kazakhstan capital markets. Since its listing, the turnover of the shares of KAP has been 10.1%, surpassing the 9.45% for the GDR’s traded on LSE.

While a price differential1 has emerged between the KAP shares and GDR’s, this needs to be seen in the context of a rapidly appreciating and volatile stock price (KAP is up almost 11% since its IPO and traded in a 5% range last week), the cost and time taken for GDR and foreign exchange conversion, and different tax positions for some GDR holders. AIX is working with the depositary bank, Citibank, its banking partners and market makers to reduce this differential and ensure seamless convertibility for securities between AIX and LSE2.”

Notes:

  1. The differential in traded prices between Kazatomprom shares listed on AIX and GDRs traded on the London Stock Exchange was 3.9% based on trading on the 7th December. Other issues traded on LSE and KASE have higher differentials and globally the differential between an underlying security and the GDR is between 2 and 13%.
  2. The GDRs and shares of Kazatomprom are fungible with the GDRs and shares listed on AIX (or LSE in the case of GDRs) as is outlined in the Kazatomprom Prospectus. Upon receiving a request, AIX initiates the conversion with the GDR depositary bank, Citibank. To date, AIX has not received any formal request for conversion from any holder of GDRs or shares.

Reference:

AIX. Astana International Exchange (AIX) was formed in 2017 as part of the development of the Astana International Financial Centre, AIFC. On the 14th November 2018, the first trading session on AIX has been launched by the President of the Republic of Kazakhstan Nursultan Nazarbayev. AIX’s shareholders include AIFC, Goldman Sachs, Shanghai Stock Exchange, the Silk Road Fund and NASDAQ, which also provides AIXs trading platform. www.aix.kz

AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre for financial services. The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in financial services, develop local capital markets, ensuring their integration with the international capital markets. www.aifc.kz

Media contact:
AIX
Yelena Pak
+7 717 2 235394
y.pak@aix.kz