‘At least 1 firm under Kazakh wealth fund will list in Hong Kong this year’

At least one company under Kazakhstan’s sovereign wealth fund will list on the Hong Kong stock exchange this year, the head of the city’s Trade…

At least one company under Kazakhstan’s sovereign wealth fund will list on the Hong Kong stock exchange this year, the head of the city’s Trade Development Council has said.

Council chairman Frederick Ma Si-hang on Tuesday also underscored the country’s huge potential, noting that Kazakhstan was seeking to privatise its state-owned companies and Hong Kong had emerged as the ideal location due to its mature capital market.

A high-level delegation organised by the council and led by Chief Executive John Lee Ka-chiu has secured more than 40 wide-ranging partnership agreements in Kazakhstan.

The group is expected to sign additional deals before heading to Uzbekistan on Wednesday.

Ma, who has visited Kazakhstan three times, said he had previously encouraged companies in the Central Asian country to list in Hong Kong but this had failed to happen due to less favourable conditions.

Frederick Ma says Hong Kong is an attractive option for Kazakhstan’s companies. Photo: Jeffie Lam

He said he was therefore delighted to witness the change this time, adding that Kazakh companies now better understood how to make use of Hong Kong’s capital market as they became more familiar with the city.

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