The merger of the KASE and AIX exchanges has been suspended due to US sanctions against the Moscow Exchange, said Timur Suleimenov, head of the National Bank of Kazakhstan.
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Sanctions against the Moscow Stock Exchange prevented the merger of KASE and AIX – National Bank of Kazakhstan
The Kazakhstan Stock Exchange (KASE) announced on June 28 that it intends to apply to the Moscow Stock Exchange to buy the 13% stake in KASE owned by the Russian exchange.
On June 12, the US Treasury’s OFAC listed the Moscow Exchange as SDN-lost. After this, the site stopped trading in euros, dollars and Hong Kong dollars.
According to the head of the National Bank, quoted by Frank Media, after the Moscow Stock Exchange was subjected to sanctions, plans to form a holding company for the exchange became “practically unrealizable.”
“We cannot complete the merger yet, we cannot even think about it, because KASE has a sanctioned shareholder,” Suleimenov said.
The idea of merging the two exchanges was first expressed by Kazakhstan President Kassym-Jomart Tokayev in the fall of 2023. In the spring of 2024, the head of the National Bank, Suleimenov, announced the “combination of potentials” of the sites, which should be completed next year.
Author:
Natalia Gormaleva
Source: RB
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