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Kazakhmys listed in Hong Kong stock exchange

29 june 2011, 15:37
0
Hong Kong Stock Exchange. ©AFP
Hong Kong Stock Exchange. ©AFP
Kazakhmys has got listed on the main board of the Stock Exchange of Hong Kong today, KazTAG reports citing the company’s press-service.

"No new shares have been issued or sold, but Kazakhmys may consider issuing some shares
into the Hong Kong market at a later date, in order to assist liquidity. Any future issuance will
depend upon share price levels and capital requirements, particularly as the major growth
projects at Aktogay and Bozshakol progress," the company says.

“Secondary listing in Hong Kong is very important for strategic development of Kazakhmys. Asia and China, in particular, are of great interest for us in terms of the client base and financing. The listing will strengthen the company’s image in the financial center of the region and will support further development of our business via opening to a wide range of investors,” Kazakhmys General Managing Director Oleg Novachuk said.

Kazakhmys is Kazakhstan’s largest copper producer and one of top ten copper producers in the world. It owns 17 operating mines, 10 concentrators and 2 copper smelters. Total copper cathode equivalent produced in 2010 from own ore was 303 thousand tonnes. The corporation also produces gold, zinc, silver and petroleum.

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