Kazakhstan equities continue to plunge on LSE

Published (modified )
Kazatomprom has shown the least decline

The shares of Halyk Bank, Kaspi and Kazatomprom, which are traded on the London Stock Exchange, continue to decline. This is the result of the war in Ukraine, geopolitical tensions and anti-Russian sanctions that indirectly hit Kazakhstan’s companies as well.  The decline started in February and is continuing in March.

However, after two days of constant decline GDR (equivalent to one common share) of Kaspi, a fintech group from Kazakhstan rose yesterday by 11.1% to $39. Over February the company’s shares dropped by 29.4% because of the Russian onslaught on Ukraine and following sanctions imposed on Russia.

At the time, the company’s shares (ticker KSPI) on Kazakhstan Stock Exchange also decreased by 11.32% to $48.80 per share.

The cost of GDR of Halyk Bank (equivalent to 40 common shares) that are traded on LSE haven’t changed and remain at is $8.60 per share. However, in February the bank’s shares dropped by 21.2%. Since the beginning of March, the equity declined by 15.7% from the price of $10.20.

On KASE Halyk Bank shares (HSBK) declined yesterday by 8.73% to $0.23 per share.

So far, the least decline was shown by Kazatomprom, one of the leading global producers of uranium. Its GDR on LSE dropped just 2.8% to $26. In February, the company’s equity lost just 6.1% of its value. However, over the first days of March, the equity dropped by 11.6%.

On the local exchange KASE, Kazatomprom’s shares (KZAP) declined by 6.04% to $25.16 per share.

Read also