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Banking

Kazakhstan: Investment banks mining a rich seam

What’s bad news for the hard-pressed bean counters at financial institutions across Europe trying to curb the exorbitant expenses claims of their equity capital market teams promises to be good news for AirAstana, the leading Kazakh airline that’s one of the candidates for a stock market listing in 2007.

2006 ECM Bookrunners for Kazakhstan
Rank Bookrunner Deal value ($mln) No. of deals %share
1= Credit Suisse 1,128 1 33.3
1= ABN Amro Rothschild 1,128 1 33.3
3= UBS 423 1 12.5
3= JPMorgan 423 1 12.5
5 ING Bank 217 2 6.4
6 Orion Securities Inc 43 1 1.3
7 Westhouse Securities LLP 21 1 0.6
Total 3,382 6 100.0
Source: Dealogic

Kazakhstan, the economic powerhouse of central Asia, is set to remain a rich hunting ground for fee-hungry investment banks in 2007. Guy Norton reports.

BOOK EARLY TO avoid disappointment if you’re heading off to Kazakhstan. Securing a first-class seat promises to be an expensive exercise in 2007, with hordes of investment bankers set to descend on the central Asian state in search of highly prized equity mandates.

What’s bad news for the hard-pressed bean counters at financial institutions across Europe trying to curb the exorbitant expenses claims of their equity capital market teams promises to be good news for AirAstana, the leading Kazakh airline that’s one of the candidates for a stock market listing in 2007.

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