“National IPO: Evaluate Your Abilities” Conference Held in Almaty on 16 October 2013

On 16 October 2013, the Almaty Rahat Palace Hotel hosted “National IPO: Evaluate Your Abilities” conference aimed to inform Kazakhstan businesses about the existing possibilities for raising funds in the Kazakhstan securities market through IPO, as well as the performance of IPO.

The conference participants were presented an adapted corporate governance scorecard – a tool developed by IFC for corporate governance assessment.

The efficient corporate governance is extremely important for any listed companies, as well as the companies launching IPO and getting prepared for listing on KASE.  The event also focused on the corporate governance role in the attraction of investments.  The corporate governance scorecard is a necessary benchmarking tool helping to improve business practices and,
as a result, to boost investors’ confidence.

The conference participants also discussed the legal and financial aspects of IPO at the Kazakhstan national stock market and practical solutions on placement of securities on KASE, including the case study of Kcell, a renowned Kazakhstan company.

“Kazakhstan Stock Exchange welcomes all initiatives aimed at attracting reliable issuers and high quality instruments to domestic market.  And even more so, welcomes the initiatives that at the same time promote improvement of corporate governance in Kazakhstani companies, bringing it to compliance with international standards and best practices,” said Azamat Joldasbekov, President of KASE.

“We believe that using Corporate Governance Scorecards not only helps investors evaluate new and existing investments, but also accelerates reforms at the company and regulatory levels.  This tool is designed and adapted to address issues relevant to Kazakhstan including country's corporate governance framework,” said Arman Berdalin, a partner of Sayat Zholshy & Partners.

The event was organized by KASE, IFC and Sayat Zholshy & Partners in partnership with Governance & Management Consulting LLP and the Executive Education Center of KIMEP University.  About 30 people attended the conference.