Reaching New Peaks, February 2012
23-24 February Deloitte together with ScholzvonGleich held a two-day IPO Master Class “Reaching New Peaks” in Almaty.
Kazakhstan and the entire Central Asian region have found refinancing tough over the last few years, and with debt to equity ratios deteriorating, companies have been forced to seek new forms of finance, and particularly equity. Previously, markets were seen more as a source for funding growth, and as an example of this, Kazakhstan has been talking about the “People’s IPO”, whose goal is to see the general public and pension funds more engaged in the IPO of local companies and share trading.
The agenda for the two-day Master Class was designed to help participants understand the route to and the various aspects of equity and debt markets – from preparation and legal processes, director responsibilities, corporate governance, financial reporting, understanding the concept of ‘trading’, investor relations, to the question of ‘where capital will come from’, and exchange rules. Deloitte experts led the group through a series of meetings, introducing them to the RFCA\KASE and other key parties and advisors. The Master Class gave companies the opportunity to meet and discuss the route to capital markets with key parties.