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Astana International Exchange (“AIX”, “Exchange”) is pleased to announce that Chocofamily Holding LLP (“Chocofamily”), one of the largest companies in Kazakhstan providing e-commerce services in various areas, has placed a $15 mln public bond on the AIX.
The $15 mln aggregate principal amount of 10.25% bonds due in 2023 has been issued in accordance with the Acting law of the Astana International Financial Center (“AIFC”) with a face value of US$100 each.
Tim Bennett, CEO of AIX, commented:
“We welcome Chocofamily to AIX and we look forward to supporting them in the future as they grow.”
Ramil Mukhoryapov, Chairman of the Supervisory Board of Chocofamily Holding LLP said:
“Together with AIX, we have created a case - for the first time in the history of Kazakhstan an Internet company successfully places bonds. Over the past 10 years, the value of Chocofamily has grown more than 300 times in dollar terms, in the next 4-5 years we plan to grow 20 times and hold an IPO. At such rates, financing growth through a bond is the most efficient option for the company in terms of the cost of capital, and for our investors - the opportunity to get a high return.”
