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Bank of Astana eyes Moscow Exchange listing

Kazakhstan-based Bank of Astana JSC plans to carry out a secondary public offering on the Moscow Exchange in mid-December to attract foreign capital and diversify funding, the lender said Dec. 6.

The SPO will be organized by Freedom Finance, which acted as a market-maker during the bank's IPO on the Kazakhstan Stock Exchange. Preliminary road shows will take place in the next few days in Russia's largest cities, including Moscow, St. Petersburg and Kazan.

The size of the planned Moscow Exchange placement could be comparable to the bank's Kazakh IPO in June, Forbes reported Dec. 5, citing the lender. Bank of Astana originally planned to offer 2.1 million shares, but due to high demand it increased the offering to 5.6 million shares, with the total value of the IPO amounting to 6.5 billion Kazakh tenge.

As of Dec. 5, US$1 was equivalent to 333.21 Kazakh tenge.