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bne Invest
July 5, 2019 www.intellinews.com I Page 10
Kazakhstan’s Astana International Exchange lists first exchange- traded fund
Kanat Shaku in Almaty
ITI Funds became the first provider to list an exchange-traded fund (ETF) on Kazakhstan’s Astana International Exchange (AIX) on July 3.
The ITI Funds UCITS ETF SICAV (RUSB), also listed on the London Stock Exchange (LSE) and the Moscow Exchange (MOEX), was listed with quotation and settlements in US dollars.
The AIX was launched as part of the Astana International Financial Centre (AIFC). The Kazakh authorities are hoping to draw in much needed liquidity into the AIX, mainly by IPOs of Kazakhstan’s largest state-owned companies.
ITI Funds has been very active in the last year and launched the world’s first Exchange Trade Fund (ETF) that tracks a basket of cryptocurrencies, as bne IntelliNews reported at the time. With the rally in bitcoin prices this year the fund has already returned more than 50% and outperformed most other asset classes.
ITI Funds has also launched an ETF platform in February 2018 with two Russia ETFs on the Irish Stock Exchange - the ITI Funds RTS Equity UCITS ETF and the ITI Funds Russia-focused USD Eurobond UCITS ETF.
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Russian metals major NLMK sells 2.6% to cash in on high share price IntelliNews Pro
Russian metals major Novolipetsk Metallurgical Kombinat (NLMK) will put up a 2.6% stake
for sale by Cyprus-registered Fletcher Group
of Vladimir Lisin that controls 84% in the company, Vedomosti daily reported on June 28 citing a report by the Goldman Sachs.
Reportedly, the accelerated book building SPO was undertaken to increase the freefloat of NLMK, improve liquidity, and further diversify the investor base, with an ultimate goal of further improving
NLMK's capitalisation, unnamed sources close to the company told Vedomosti.
As reported by bne IntelliNews, the capitalisation of Lisin’s NLMK topped $15.88bn on London Stock Exchange on June 4, overtaking the world's largest steel maker ArcelorMittal, worth $15.7bn in New York, and having almost the same capitalisation on the Euronext exchange of $15.9bn.
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