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Kremlin payment firm A7 has been pumping billions in ‘untraceable’ cash into global financial system 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.
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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.
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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