At £661 million, the Offering is the largest ever IPO by a company from Kazakhstan on a public market anywhere in the world. The listing is the third biggest IPO by an international company on the London Stock Exchange’s markets this year.
Kazakhmys, with a market capitalisation of approximately £2.75 billion, joins a total of 35 mining companies listed on the Main Market. Clara Furse, Chief Executive of the London Stock Exchange, said:
“We are delighted that Kazakhmys has chosen London for its primary listing. The capital raised in this IPO demonstrates the strength of London’s markets and investor confidence in its world-leading regulatory and corporate governance standards. With a healthy new issues pipeline, we hope to welcome many more international companies to our markets in the next few months.”
Yong Keu Cha, Chief Executive of Kazakhmys, commented:
“We are delighted with the positive response to the Kazakhmys IPO. London is the venue of choice for mining companies and by listing here we have access to the most sophisticated and experienced investors in the sector. Their investment will enable us to continue to take advantage of Kazakhstan's extraordinary mineral wealth, and deliver on our growth strategy to create value for our shareholders. We are very much looking forward to the next phase of our development as a listed company.”
To celebrate the occasion, Yong Keu Cha, Chief Executive of Kazakhmys, opened the London Stock Exchange’s markets by switching on ‘The Source,’ a specially commissioned artwork in the main atrium of the London Stock Exchange’s building in Paternoster Square.
A total of 21 companies operating in the former Soviet Union are traded on the London Stock Exchange’s Main Market. So far this year, there have been a total of 5 Main Market IPOs by companies from this region, raising in total around $4.7 billion between them.
