The head of the board of the Kazakhstan Exchange, Alina Aldambergen, previously reported on negotiations on the repurchase of shares in the Moscow Exchange.
The Capital Exchange will withdraw from the shareholders of the Kazakhstan Stock Exchange (KASE). This was reported by The Moscow Times.
“The decision in principle that the Moscow Exchange will withdraw from the shareholders of KASE was made, and it was supported by colleagues of the Moscow Exchange. I want to say that this is the right professional decision,” said the head of the National Bank of the Republic Timur Suleymanov.
Earlier, the head of the board of the Kazakhstan Exchange, Alina Aldambergen, reported that KASE is in talks to buy shares in the Moscow Exchange. According to him, this can be done through the platform itself or the shares will be transferred to third parties, but with the agreement of the Kazakh side.
The decision to remove the Moscow Exchange from the list of shareholders was made after contacting an international legal consultant who analyzed the risks.
KASE management has concerns that the presence of shareholders of a Russian company under sanctions will lead to difficulties in cooperation with foreign structures and financial partners.
The share of the Moscow Exchange in the share capital of KASE is 13.1%, and the market value of the package is 12.1 billion tenge or 2.2 billion rubles. At the same time, the Russian trading platform received shares of the Kazakhstan Exchange as part of a strategic partnership for technologies provided by the Russians.
Let’s recall that in August it became known that trading on the Moscow Exchange stock market was suspended in Russia.
As we wrote earlier, the State Bank of China refused to cooperate with the Moscow Exchange due to sanctions.
Source: korrespondent
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