Nasdaq and the Shanghai Stock Exchange are in talks to acquire stakes in the Kazakhstan stock market to be launched this year, The Financial Times reported on Monday. The move is aimed at creating the international financial hub.
Within the framework of this cooperation, Nasdaq and the Shanghai Stock Exchange offer technology, data services and know-how to the Astana International Exchange. In June, the outcome of negotiations on the purchase of equity stakes in the Kazakhstan’s stock market by foreign exchanges will become known.
The Astana International Finance Centre (AIFC) has agreed to be ruled by English law and international investment arbitration. The financial center will include the bourse and an independent regulator.
The new exchange will start operating since January 1, 2018. The country’s leading companies will be listed on it. The financial center will have a special tax, currency and visa regime. It will also be able to attract foreign staff.
