Kyrgyz Finance Ministry Becomes Core Shareholder of Stock Exchange
Kyrgyz Ministry of Finance becomes core shareholder of Kyrgyz Stock Exchange and Central Depository
In a recent development, the Ministry of Finance of Kyrgyzstan has become a core shareholder of the Kyrgyz Stock Exchange CJSC and Central Depository CJSC. This move comes after extraordinary meetings of shareholders of the Central Depository and the Kyrgyz Stock Exchange, which were held on December 19 and December 25, 2023.
The decision to increase the number of traded shares by issuing additional shares in favor of the state, represented by the Ministry of Finance, has been recognized and registered in the Unified State Register of Securities of the Kyrgyz Republic. As a result, the Ministry of Finance now owns 28.55 percent of the shares in the authorized capital of the Kyrgyz Stock Exchange, and 50 percent of the shares in the authorized capital of the Central Depository.
This means that the state has become the largest shareholder of these financial institutions. According to the Kyrgyz Stock Exchange, this development is expected to significantly contribute to the modernization of the technical potential of these institutions and open up opportunities for the development of new areas of activity, including the organization and creation of improved conditions for the placement and circulation of government securities.
Moreover, the new public-private partnership is expected to activate other important sectors on the exchange, such as the precious metals sector, currency, commodity sector, and others. Overall, this move is seen as a positive step towards the revitalization and expansion of the financial sector in Kyrgyzstan.
