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The London Stock Exchange and the Regional Financial Centre of Almaty (RFCA), Kazakhstan today signed a co-operation agreement to formalise the existing strong ties between the two organisations.
Under the agreement, the Exchange and the RFCA will establish systems for regular meetings between senior executives and agree to exchange information. The agreement will assist in the development of the RFCA and will aim to promote international investor awareness of Kazakhstan and the central Asian region.Commenting on the agreement, Tracey Pierce, Head of Global Business Development at the London Stock Exchange, said:
“We are delighted to sign this co-operation agreement with the RFCA. Kazakhstan is a significant market for the London Stock Exchange, and we are committed to supporting the development of Kazakh capital markets and to improving investor understanding of the opportunities available in the region. We look forward to working with the RFCA to the benefit of both our markets.”
Arken Arystanov, Chairman of the RFCA, said:
“The signing of this co-operation agreement with the London Stock Exchange is an important step in the long term development of both the RFCA and capital markets in Central Asia. We look forward to the development of our already fruitful relationship with the London Stock Exchange.”
The Regional Financial Centre of Almaty was created in February 2006, as part of an initiative by the Government of Kazakhstan to create a stock market operating to internationally recognised standards of market regulation and best practice. The long term objective of the RFCA is to act as a regional financial hub, attracting international investment funds along with listed companies from the wider Eastern European and Central Asian regions.
Four Kazakhstan companies are currently listed on the London Stock Exchange’s Main Market, and a further 10 companies with operations in Kazakhstan are quoted on AIM. Kazakh companies have raised a total of $4.2 billion on the Main Market and AIM in the past two years.
