BAKU, Azerbaijan, Feb. 11
By Nargiz Sadikhova - Trend:
Placement of ordinary shares and global depository receipts (GDRs) at Astana International Exchange (AIX) by Kazakhstan’s major telecommunications operator - Kcell company – is expected to help the company increase its liquidity, a representative of the company told Trend.
“Technical cross listing is expected to provide for liquidity increase via increase of the number of potential purchasers,” the official said.
He added that the company considers the placement at AIX to help the company expand the shareholders base, make shares available for more investors.
“Last year we observed positive results of other major Kazakh issuers placement at AIX and great demand for their securities by both local and foreign investors. We hope that our placement will be just as successful,” the representative said.
The official added that the company’s cross listing at AIX will create a base for future inclusion in AIX index fund.
As announced on Feb. 6, 2020, Kcell has placed its ordinary shares and global depository receipts at AIX.
Kcell provides mobile voice telecommunications services, messaging services, value-added services as well as data transmission services including internet access. It has two brands: the Kcell brand and the Activ brand.
The company offers its services through its extensive, high quality network, which covers substantially all of the populated territory of Kazakhstan.
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