Press releases 2006
21 November 2006
LONDON STOCK EXCHANGE AND REGIONAL FINANCIAL CENTRE OF ALMATY, KAZAKHSTAN, SIGN CO-OPERATION AGREEMENT
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.
For further information, please contact:
London Stock Exchange
Catherine Mattison Press Office +44 (0)20 7797 1222
Richard Webster-Smith firstname.lastname@example.org
Alina Aldambergen, Press Office +7 (3272) 590611
Notes to editors:
• About the London Stock Exchange:
The London Stock Exchange is the world’s premier international equity exchange and a leading provider of services that facilitate the raising of capital and the trading of shares.
The London Stock Exchange is the most international equities exchange by trading in the world and Europe's largest pool of liquidity. By the end of 2005, the market capitalisation of UK and international companies on the London Stock Exchange’s markets amounted to £4.1 trillion, with £5.2 trillion of equity business transacted over the year.
The London Stock Exchange is a Recognised Investment Exchange (RIE) under the Financial Services and Markets Act 2000 and is supervised by the Financial Services Authority.
• About RFCA:
The activities of the Regional Financial Centre of Almaty are aimed at developing the region’s securities market and ensuring its integration with international capital markets, attracting international investment into the economy of Kazakhstan, and facilitating the investment of Kazakhstani capital in foreign securities markets.
The Regional Financial Centre of Almaty City provides a special legal regime for registered market participants. The RFCA’s special trading floor provides tax benefits and economic incentives to both Kazakhstani and foreign RFCA participants.
The RFCA has an International Advisory Board of local and foreign experts to advise on matters relating to strategy and development of the RFCA.