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Kazakhstan Stock Exchange ready for IPO 25 ноября 2011, 10:42

The Stock Exchange has got the software to run the People's IPO: KASE president.
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President of Kazakhstan Stock Exchange Kadyrzhan Damitov. Photo by ©Yaroslav Radlovskiy President of Kazakhstan Stock Exchange Kadyrzhan Damitov. Photo by ©Yaroslav Radlovskiy
Kazakhstan Stock Exchange is ready for the IPO, Tengrinews.kz reports from 3rd economic forum of large business Expert-100-Kazakhstan held on November 23 in Astana. “Technical characteristics of the software currently being used by stock exchange are sufficient to run this process (IPO), but we keep progressing. Since last year we have been performing a good amount of work to improvement new IT processes,” President of Kazakhstan Stock Exchange Kadyrzhan Damitov said. According to Damitov, KASE is currently loaded only at 2-3 percent of its total capacity. Average amount of deals closed daily at the stock exchange is only 529. 400 of them are made at the currency market. According to the average 10 months' data of this year, only 51 deals are done at the stock market daily. “3-5 deals a day are made with the most liquid stocks of the KASE Index that includes 7 companies,” Damitov said. According to the information unveiled by President of Kazakhstan Stock Exchange, 12 thousand accounts are currently operating in the system of central depository (10.5 thousand of them have sub-accounts in the trade system of the stock exchange), but only a few hundreds of them are really active. For comparison: there are around 700 thousand accounts at Russian stock exchange and around 100 thousand of them are active. According to KASE president, it will be a good results if there are 100 thousand active shareholders within 5 years of implementation of the People's IPO program.

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