KASE Shares and Russian Funds: New Solutions Amid Restrictions
Photo: Envato
Russian Kazakhstan Stock Exchange (KASE) shareholders have transferred their shares from Specialized Depository Infinitum JSC to Raiffeisenbank JSC, Orda.kz reports.
In November 2024, Infinitum was included in the US Office of Foreign Assets Control (OFAC) sanctions list.
Before that, in October 2024, 13.1% of KASE shares were transferred to Russian closed-end mutual investment funds Nigella and Levkoy, which were previously part of the Moscow Exchange.
The Moscow Exchange has been under sanctions since June 2024.
Following this transaction, KASE Chair Alina Aldambergen expressed her intent to contact the new holders to learn who the ultimate owners of these shares are.
However, the outcome of this request has not been disclosed. Russian law does not require closed-end mutual funds to reveal their shareholders, complicating obtaining such information.
Raiffeisenbank, a trading member of KASE on the foreign exchange market since 2021, has been chosen as the new depositary.
Additionally, the bank has been serving as a custodian for the Central Securities Depository of the Astana International Financial Centre (AIX) since 2020 and became a trading member of AIX in January 2025.
Original Author: Rustam Muratov
Latest news
- Ecology Ministry Explains 13 Million Tenge Fine For Picking Dandelions
- Kazakhstan Refineries Increase Oil Processing Depth To 90%
- High Rates No Longer Keep Kazakh Banks’ Profits Rising, Analysts Say
- Almaty Health Officials Prepare for Possible Hantavirus Cases
- Ministry Says Saiga Deaths Remain Within Natural Limits
- Kazakhstan Faces Shortage of Doctors and IT Specialists
- Kazakhstan Petition Calls for VAT Removal on Feminine Hygiene Products
- Kazakhstan to Publish Register of Convicted Economic Crime Offenders
- Kazakhstan’s Economy Grew 3.6% in Four Months
- Shymkent Colleges Used Fictitious Students to Steal Over 1.3 Billion Tenge
- Almaty Court Extends Chechen Activist’s Extradition Arrest
- Record Rainfall Hits Almaty
- Falling Caspian Sea Level Reshapes Northern Coastline
- Kazakhstan Says It Is Ready To Help Resolve Iran’s Nuclear Issue
- Pashinyan Explains Why He Will Skip The EAEU Summit In Astana
- Kazakhstan To Gradually Cut University Programs In Oversupplied Fields
- Kazakhstan Offers Indonesia A Route To Central Asia And Europe
- Kazakhstan Tightens Rules for Master Plans and Urban Development
- Kazakhstan Approves Rules for Digital Tenge Circulation
- Military Jets to Conduct Training Flights Over Astana
