BAKU, Azerbaijan, October 26. Kazakhstan's Stock Exchange AIX is open for brokers from Azerbaijan, acting Chairman of the Board of Administration of AIFC Temirlan Mukhanbetzhanov said, in response to Trend's question.
"Astana International Financial Center (AIFC) established a separate stock exchange, Astana International Exchange (AIX)," Mukhanbetzhanov said on the sidelines of the FinTech-forum in Baku.
He noted that the co-shareholders are the Shanghai Stock Exchange, the Silk Road Fund, and the NASDAQ exchange, which provides the AIX trading platform.
"In this regard, I would also like to address Azerbaijani brokers. We have the possibility of remote access to the exchange infrastructure. With a broker license in Azerbaijan, it is possible to connect to our infrastructure and, accordingly, open access to Kazakh securities for the Azerbaijani market. I think this step will be very effective as the privatization program is slowly beginning," he said.
As Mukhanbetzhanov noted, the IPO of KazMunayGas (the national oil and gas company of Kazakhstan) was held last year.
"About 3 percent of shares were placed on the local market. On the local market, there was no double listing. This gave a very good push to retail investing. It's been about a year, and the stock has grown quite well, meaning people have made money on it. Therefore, such processes, I think, will be interesting to the Azerbaijani market, and we are ready to cooperate in this way," Temirlan Mukhanbetzhanov added.