A recent dual-listing at the Astana International Financial Centre (AIFC) in Kazakhstan has been hailed as an “icebreaker” for Kazakh and Chinese issuers who are showing growing interest in pursuing cross-border equity and debt deals.
According to AIFC’s governor Renat Bekturov, the debut of tungsten miner Jiaxin International Resources on both the Hong Kong and Kazakh stock exchanges last month sparked “a lot of interest” from Kazakh and Chinese companies wanting to follow suit.
“It was an icebreaker, paving the way for more companies both with Kazakhstani roots and Chinese companies with assets in Kazakhstan,” he said.
“Also, we are seeing interest from Chinese financial companies, [including] brokers and underwriters, in cooperation with potential Kazakhstan issuers – both in areas of equity capital and fixed income – thanks to the huge pool of liquidity in Hong Kong.”
The special economic zone in the Kazakhstan capital has positioned itself as a financial gateway for Chinese investment seeking entry into Central Asian and Eurasian markets amid Beijing’s expanding Belt and Road Initiative.
