Samruk-Kazyna Managing Director Saltanat Satzhan spoke at an AFD panel discussion focused on the integration of the Chinese and Kazakh capital markets.

During the panel session, “Unlocking Investment Flows: China-Kazakhstan Capital Market Integration,” the speaker highlighted several key points:

* China’s capital market is opening up new opportunities for Kazakhstan. Cooperation between the two countries is gradually expanding beyond trade and infrastructure to increasingly encompass investment and capital markets.
* Samruk-Kazyna’s entry into China’s domestic market has set an important precedent for Central Asia.
    The Fund issued the first panda bonds in the history of Kazakhstan and Central Asia, with a yield of 2.18% per annum. This not only helped diversify the Fund’s funding sources but also opened access to a new pool of Chinese investors.

“China is one of Kazakhstan’s most important economic partners, and our cooperation is increasingly extending beyond trade and infrastructure to encompass investment and capital markets. Samruk-Kazyna’s recent debut in China’s domestic bond market is a good example of this evolution, while the potential participation of Chinese and Asian investors in future equity transactions adds another important dimension to our partnership,” Saltanat Satzhan said during the discussion.

* The experience gained and interest from Chinese investors could facilitate market access for other Kazakh companies. This is particularly relevant for KTZ, whose business model is directly linked to the development of transport connectivity between China, Central Asia and Europe.
* A potential KTZ IPO with a simultaneous listing on three exchanges — in Kazakhstan, London and Hong Kong — would help diversify the investor base. Each market provides access to a distinct group of investors, while combining the three could generate deeper demand and greater liquidity.