19 Jan 2010 12:18

Kazakh stock market to introduce Russian issuers in 2010

ALMATY. Jan 19 (Interfax) - Russian issuers will enter Kazakh stock Market in 2010, forecasts the head of the Agency for Regulation of Activities of the Regional Financial Center of Almaty (ARA RFCA) Arken Arystanov.

"Russian companies will join the Kazakh stock market this year," he said at a press conference in Almaty on Tuesday.

However Arystanov did not specify the names of the enterprises. "I cannot give any names at the moment. We are currently negotiating with Russian brokers and exchanges. Russian companies go where the money is cheaper. We have lower inflation, interbank lending and public placement on the stock market. These are positive factors," he added.

Arystanov has noted that ARA RFCA intends to propose that Stock Exchange Council of Kazakhstan consider granting Russian issuers a grace period for listing payments. "We might cover some of those costs ourselves," - he said.