Kaspi, Halyk Bank and Kazatomprom report sharp decline in their shares on LSE

As the trading sessions on the London Stock Exchange (LSE) and Kazakhstan Stock Exchange (KASE) have shown today, the shares of prominent Kazakhstan companies such as Kaspi, Halyk Bank and Kazatomprom are in a free fall.

GDR of Kaspi (equivalents to common shares) dropped by 19.62% on the LSE to $63.1 per GDP. At the same time, the value of the company’s shares declined by 13.35% to $70.

Earlier, Kaspi shares dropped by 74.5% to $20. According to the company, this decline is a sign of the swift reaction of Western partners to the current geopolitical risks. As Kaspi noted, the reason for the decline is the conflict between Ukraine and Russia.

In turn, Halyk Bank’s GDP (equivalent to 40 common shares) dropped by 15.28% to $10.59. On the local exchange KASE, the bank’s shares lost 13.05% and dropped to $0.29.

GDR of Kazatomprom has declined by 10.82% to $28.23 on the LSE while on KASE the bank’s equity lost 6.17% to $30.55.