Astana International Exchange (“AIX” or the “Exchange”) is pleased to announce that the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market has approved amendments to regulatory and legal acts necessary to ensure that Kazakhstani institutional investors are now able to trade on AIX and hold AIX-listed securities denominated in KZT under the same prudential requirements as other venues.
Going forward, financial institutions (banks, insurance companies, investment funds, brokerage firms) may acquire publicly traded AIX shares and other securities of Kazakhstani companies, denominated in Tenge. Previously, institutions were allowed to purchase on AIX foreign currency denominated securities only.
Tim Bennett, CEO of AIX, commented:
“Development and integration of the securities market are essential conditions for sustainable economic growth of the country. We are pleased that Kazakhstani institutional investors will be given the opportunity to replenish their asset portfolio with shares of Kazakhstani companies listed on AIX. Investments in the “national champions” of Kazakhstan will undoubtedly contribute to business growth, and will also favorably affect the development of the equity market and the national economy as a whole.”