Kcell got listed on AIX
Astana International Exchange (“AIX”) has announced that ordinary shares and global depositary receipts (GDRs) of Kcell, a company providing mobile phone services, are admitted to the AIX official list effective 6 February 2020, Strategy2050.kz reports with reference to the AIFC’s press service.
The secondary trading is expected on 7 February 2020 under the ticker name KCEL with quotation and settlement in KZT and fully convertible on AIX and Kazakhstan Stock Exchange, GDRs will be traded under the KCEL.Y ticker with quotation and settlement in USD and fully convertible on the London Stock Exchange and AIX.
“We are delighted to welcome Kcell to AIX. The listing of Kcell securities on AIX will allow the Company to diversify its pool of investors and will provide local and foreign investors’ access to trading in both Kcell shares and GDR’s on one market,” said CEO Tim Bennett of AIX.
The Company first went public in 2012.
“This move will enable the Company to diversify and expand its investor base, as well as enhance its stock liquidity. We continue to adhere to the highest international standards of corporate governance to which we have been committed since our IPO in 2012. This latest development will allow us to create greater value for our customers and our shareholders. I am confident that this cooperation between Kcell and AIX will prove to be a long lasting and mutually beneficial relationship,” says Kaspars Kukelis, Chairman of the Management Board and CEO of Kcell.
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, Goldman Sachs, the Shanghai stock exchange, the silk Road Fund, and NASDAQ, which also provides the AIX trading platform.
The Astana International Financial Center (AIFC) was established on the initiative of Nursultan Nazarbayev, First President of Kazakhstan. The aim of AIFC is to form a leading centre of international financial services. The objectives of the AIFC are to assist in attracting investments into the country’s economy, create an attractive environment for investment in financial services, develop the securities market of Kazakhstan and ensure its integration with international capital markets.
Kcell provides mobile voice telecommunications services, messaging services, value-added services (such as multimedia and mobile content services), as well as data transmission services including internet access. It has two brands: Kcell, which is targeted primarily at corporate subscribers (including government subscribers), and Activ, which is targeted primarily at mass market subscribers.
