Raiffeisenbank JSC, a Russian bank, has become the nominal owner of the second-largest block of shares in the Kazakhstan Stock Exchange (KASE). According to information on the exchange website, the Russian bank currently owns 13.1%, or 140,800 shares, in nominal ownership.
This block of shares previously belonged to PJSC Moscow Exchange (MOEX), the largest exchange group in Russia, until October 11, 2024. In June of the same year, US sanctions were imposed against the Moscow Exchange as well as its subsidiaries, the National Clearing Centre (NCC), and the National Settlement Depository (NSD).
Following the imposition of these sanctions, the Moscow Exchange withdrew from KASE’s list of shareholders. On September 30th, 2nd 2024, Vladimir Krekoten, representative of MOEX, resigned from KASEC’s board of directors due to his application for early retirement.
After the Moscow Stock Exchange, two Russian closed-end mutual funds became owners of its shares in KASE: Nigella and Levka, which are managed by Tethys Capital Management Company and Balance Asset Management. Currently, these funds are not included in the shareholders of KASE.
The largest block of shares (46.99%) of Kazakhstan Stock Exchange is owned by the National Bank of Kazakhstan.
Raiffeisenbank JSC is a subsidiary of the international banking group, Raiffeisen Bank International.
