At the end of July, KASE opened trading in common shares of Aktobe steel factory. This is the first major Kazakh company that represents the real economy, which came to the stock market. As experts say, the raised funds of the company will be used to reduce debt and expand the production capacity.

 

Alexander ALEXANDROV, DIRECTOR GENERAL, ‘AZM’ JSC:

 

We represent a reputable company that has a very large economic impact in the region and the industry. We manufacture metal structures construction industry, we make containers, modular buildings, structural metal elements. Subsoil, mining sector, metallurgy and oil sector enterprises are all our customers.

 

Andrey TSALYUK, DEPUTY CHAIRMAN, KASE:

 

Companies of the real sector give money voluntarily to a company that is not affiliated with the state. This is not a small business, and moreover, is not a start-up enterprise. This is a strong medium-sized business. And, we believe that the mission of the Kazakhstan Stock Exchange is to organize and attract money.

 

Brokerage firm ‘Freedom Finance’ was engaged in introducing the company on stock market. 1,498 applications were filed totaling 2.9 billion tenge. The demand exceeded the offer by 3.7 times. The distribution of the share on types of investors in the total volume of applications was submitted as follows: individuals – 95.9%, dealers – 2.4% and, other legal entities – 1.7%. 

 

Andrey TSALYUK, DEPUTY CHAIRMAN, KASE:

 

Carrying out of such IPO will increase the number of investors. There will be more and more people involved in it. This is especially important now, when concerns over devaluation of tenge have weakened. There is a great interest in tenge-denominated assets. There are enough decent rates on deposits in the banks, but these companies may offer higher returns. The returns will be very high, but will concern major part due to great risks of the company.

 

Applications were submitted from Almaty, Aktau, Atyrau, Ust-Kamenogorsk, Shymkent. According to the applications, the main shareholders of ‘Aktobe Plant of Steel Constructions’ are the residents of Almaty, Aktau, Ust-Kamenogorsk and Astana. 

 

Photo: www.citylab.com

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