Ipo Market: Transformation of Savings Into Investments

Mergenbayeva, Aziza; Nurasheva, K.K.; Kulanova, D.A.; Abdikerimova, G.I.; Abishova, Aizhan; Alibek, A.

doi:10.32014/2019.2518-1467.14

Cited by 3 publications

(3 citation statements)

References 2 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Firstly, the size of the market for infrastructure bonds in Kazakhstan is still small, because of this, often a significant part of the issues is entirely bought out by a single investor. Thus, in this segment of bonds one cannot talk about one's own benchmarks for yield within this asset class [1].…”

Section: Executive Agenciesmentioning

confidence: 99%

See 1 more Smart Citation

Municipal Infrastructure Project: Municipal Bonds as One of the Main Factors in Economic Development

Kokenova¹,

Abdikerimova²,

Nurasheva³

et al. 2020

NATIONAL ACADEMY OF SCIENCES OF THE REPUBLIC OF KAZAKHSTAN

Self Cite

View full text Add to dashboard Cite

Р е д а к ц и я к е ң е с і: Молдова Республикасының ҰҒА академигі Белостечник Г. (Молдова); Әзірбайжан ҰҒА академигі Велиханлы Н. (Азербайджан); Тәжікстан ҰҒА академигі Назаров Т.Н. (Тәжікстан); Молдова Республикасының ҰҒА академигі Рошка А. (Молдова); Молдова Республикасының ҰҒА академигі Руснак Г. (Молдова); Әзірбайжан ҰҒА корр. мүшесі Мурадов Ш. (Әзірбайжан); Әзірбайжан ҰҒА корр. мүшесі Сафарова З. (Әзірбайжан); э. ғ. д., проф. Василенко В.Н. (Украина); заң ғ. докт., проф. Устименко В.А. (Украина) «Қазақстан Республикасы Ұлттық ғылым академиясының Хабарлары. Қоғамдық және гуманитарлық ғылымдар сериясы».

show abstract

Section: Executive Agenciesmentioning

confidence: 99%

“…For example, in the United States, infrastructure bonds are issued by municipalities as «special purpose bonds». Under specific infrastructure projects -generating cash flow -revenue bonds are issued [1,2].…”

Section: Introductionmentioning

confidence: 99%

Municipal Infrastructure Project: Municipal Bonds as One of the Main Factors in Economic Development

Kokenova¹,

Abdikerimova²,

Nurasheva³

et al. 2020

NATIONAL ACADEMY OF SCIENCES OF THE REPUBLIC OF KAZAKHSTAN

Self Cite

View full text Add to dashboard Cite

show abstract

“…In general, companies with the highest free float level, that is, the share of equity available for acquisition on an open market, generate the highest level of liquidity, and the minimum free float requirements are usually set at 25 percent, although this figure varies across jurisdictions [16]. As part of the privatization of state-owned companies through IPOs at AIX, it is necessary to offer at least 15-20, and potentially a greater number of investment-quality state-owned assets, while getting public state-owned companies to make additional offerings, because following the IPOs slated for ten "blue chips" a need to further support the proposal will inevitably rise in the medium term [17]. Adoption of corporate governance and reporting standards will ensure the quality of listed companies.…”

mentioning

confidence: 99%

Ways to Enhance Capital Market Liquidity at the Astana International Financial Center

Takhanova¹,

Sembiyeva²

2019

SERIES OF SOCIAL AND HUMAN SCIENCES

View full text Add to dashboard Cite

Р е д а к ц и я к е ң е с і: Молдова Республикасының ҰҒА академигі Белостечник Г. (Молдова); Əзірбайжан ҰҒА академигі Велиханлы Н. (Азербайджан); Тəжікстан ҰҒА академигі Назаров Т.Н. (Тəжікстан); Молдова Республикасының ҰҒА академигі Рошка А. (Молдова); Молдова Республикасының ҰҒА академигі Руснак Г. (Молдова); Əзірбайжан ҰҒА корр. мүшесі Мурадов Ш. (Əзірбайжан); Əзірбайжан ҰҒА корр. мүшесі Сафарова З. (Əзірбайжан); э. ғ. д., проф. Василенко В.Н. (Украина); заң ғ. докт., проф. Устименко В.А. (Украина) «Қазақстан Республикасы Ұлттық ғылым академиясының Хабарлары. Қоғамдық жəне гуманитарлық ғылымдар сериясы».

show abstract

The IPO Market: Global Practices, Development Trends and IPO in Kazakhstan

Nurasheva

Mergenbayeva

Kulanova

et al. 2020

View full text Add to dashboard Cite

Subject. The article discusses the stock market of Kazakhstan, which is crucial for the economy. Its weaknesses inhibit the development and impedes market reforms. We review IPO as a segment of the stock market. Objectives. The study analyzed the global IPO market in terms of the number of placements and volume of capital. We also review what made investment initiatives a success or a failure, investigating milestones of the IPO market evolution in Kazakhstan and formulating our proposals for its further growth. Methods. The study applies methods of relevant sampling, logical reasoning, data grouping, systems and statistical analyses. We intensively used the content analysis of available sources. Results. The IPO market develops in a different manner across countries. Analyzing major placements, even the risk assessment is found to not necessarily make a placement a success. Weak development institutions, unstable banking sector inhibit the development of Kazakhstan's stock market. The first attempts of IPO resulted in a low capitalization of stocks, high volatility due to small volumes. Kazakh IPOs are exposed to the risk associated with ownership, enterprise privatization, uncertainty of price and tariff regulation. Common people do not have enough skills and money to offer their funds in the local stock market. We suggest making the corporate operations more transparent, labeling them as public, determine clear guarantees for common shareholders The suggestions concerning Kazakhstan's IPO market will strengthen the stock market. Research is also useful to emerging economies. Conclusions and Relevance. Kazakh IPO does not meet the development level of the economy. The Kazakh authorities shall be decisive to fairly distribute income, ensure a growth in people's wellbeing, thus expanding their opportunities for acquiring securities. Laws should be refined and enhanced in terms of shareholders' rights protection, transparency of corporate operations, broad involvement of people into operations of stock markets.

show abstract

Ipo Market: Transformation of Savings Into Investments

Cited by 3 publications

References 2 publications

Municipal Infrastructure Project: Municipal Bonds as One of the Main Factors in Economic Development

Municipal Infrastructure Project: Municipal Bonds as One of the Main Factors in Economic Development

Ways to Enhance Capital Market Liquidity at the Astana International Financial Center

The IPO Market: Global Practices, Development Trends and IPO in Kazakhstan

Contact Info

Product

Resources

About