Astana International Exchange (“AIX”, “Exchange”) is pleased to announce that the first issuance of securities under the Liquidity Management Program has been registered, issued, and placed on AIX by BI Development.
BI Development, one of the largest property developers in Kazakhstan, has registered the first Liquidity Management Program (the “Program”) with AIX. It is a new product that AIX has recently introduced with BI Development being the first Issuer to adopt the new instrument. The Program is designed to service funding needs within one group of companies enabling such companies to issue debt instruments within just a few days.
Assel Mukazhanova, Acting Chief Executive Officer, AIX, said:
“Customer centricity is one of the major principles AIX is focusing on in its operations and Liquidity management program is a product which has been designed to address the needs expressed by businesses. We are delighted to see that our efforts resulted in this particular transaction and glad that BI Development pioneered the use of such an instrument. I would like to thank colleagues from BI for their professionalism and focus throughout the entire process. We see growing interest from other clients in this product and we hope to keep servicing the market with more innovative business solutions and products.”
Ruslan Embergenov, Chief Financial Officer, BI Development, said:
“I am pleased to announce the placement on AIX as part of our company’s 10-year bond liquidity management program. We’ve asked for a specific program for the Group that would accelerate the issuance of securities while reducing costs. Our request was implemented by the partners at AIX. I would like to thank the Exchange team for their prompt and professional work. We offer loans to local and foreign investors with a minimum value of one bond of $100k. I am sure that the program will be of great interest to the market participants. Previously BI has repeatedly issued securities on Astana International Exchange and successfully closed liabilities to investors. Participation in the exchange programs contributes to the scaling of our business, expanding the project portfolio and achieving excellent financial performance.”
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, the Shanghai stock exchange, the silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English Law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. More details: www.aix.kz
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. https://aifc.kz/
BI Development is part of the BI Group, the largest developer in Kazakhstan. The construction holding is the first and the only developer of the country, included in the authoritative international rating of ENR Top-250 Global Constructors, 194th place as of 2022. For almost 28 years of activity BI Development has built more than 6 million square meters of housing for 300 thousand citizens of Kazakhstan.