Baku, Azerbaijan, Oct.2
By Rashid Shirinov – Trend:
Goldman Sachs will be a shareholder of the Astana International Exchange (AIX), the press service of the Astana International Financial Centre said in a statement.
On October 1, Goldman Sachs and AIX jointly structured a deal in which Goldman Sachs International (together with its affiliates) subscribed for approximately 108,480 newly issued ordinary shares. This corresponds to 4.1 percent of the total issued share capital of AIX, including investments.
At the same time, Goldman Sachs acquired a put option from AIFC Authority JSC for a period of five years with the right to sell to protect GS against a decline in the value of the shares below the purchase price. On exercise of the put option, AIFC Authority will purchase all of the shares at the original purchase price.
Commenting on the deal, AIFC Governor Kairat Kelimbetov noted that the entry of Goldman Sachs into AIX capital was launched by the President of Kazakhstan during his January visit to the United States.
"Then the president of Goldman Sachs Harvey Schwartz expressed interest in the participation of GS as a shareholder of the AIFC. The successful closing of the deal is the result of the well-coordinated work of the Center's team," Kelimbetov said.
He further expressed confidence that the deal between the AIFC and Goldman Sachs will not only benefit all parties, but will also be a signal to other major market participants.
Other shareholders of AIX are NASDAQ, the Shanghai Stock Exchange and the Silk Road Fund.
Goldman Sachs is one of the world's largest investment banks and a financial conglomerate. The main activities of GS include investment banking, securities trading, investment management and other financial services, primarily with institutional clients. The total amount of managed assets exceeds $1.5 trillion.
The investment bank is headquartered in New York and has offices in all major financial centers of the world. It is noteworthy that Goldman Sachs is one of the six largest U.S. corporations.