Shanghai Exchange To Acquire 25.1% Stake In Kazakhstan Exchange

Kazkommertsbank’s KZT11,524 seized

The Shanghai Stock Exchange (SSE) said on Thursday it has signed an agreement with the financial centre of the Republic of Kazakhstan to acquire a 25.1 percent stake in the country’s exchange.

The Shanghai exchange will cooperate with the Astana International Finance Centre on strategy and technology consulting, business planning, product design and market expansion among other things, the SSE said in a statement on its website.

Kazakhstan is a One Belt One Road country and an important partner, the statement said, referring to China’s ambitious investment initiative to deepen links with Asia and beyond.

At the end of last year a Chinese-led consortium purchased a 40 percent stake in the Pakistan Stock Exchange.