Аналитика и мероприятия UPPERCASE
2023-10-19 17:15

AIX: listing within REMS

The Regional Equity Market Segment (REMS) was created to attract equity capital by medium-sized businesses in Kazakhstan and Central Asia.

Its goal is to support small and growing companies and attract equity by listing on AIX under more flexible terms compared to the main market.

The main advantages of REMS are the following factors

  • Acts as a quick and simple listing, cross-listing and capital raising procedure for issuers;
  • Provides benefits for investors in the form of securities capital gains tax, dividend and coupon payment tax exemptions;
  • Opens up extensive opportunities for businesses in Kazakhstan and Central Asia, including access to foreign investment;
  • Promotes the growth of interest from foreign and regional investors to ensure a dynamic and more liquid market;
  • AIX Rules incorporate the best practices and expertise of the UK Listing Authority (UKLA) and Dubai International Financial Centre (DIFC);
  • The AIX complies with ISO 27001 and ISO/IEC 27032:2012 international information security and cybersecurity management standards.

Key factors

  • Both AIFC residents and companies from other jurisdictions, including other countries, can become issuers of the REMS segment.
  • In REMS, you can raise capital in different currencies: tenge, US dollars, euros, British pounds, yuan, rubles and other currencies on request.
  • As part of REMS, the company can raise the following amount: the minimum volume of the offer of shares is 1 million US dollars, while the volume of the offer should not exceed 200 million US dollars. The share price and the amount of attracted investments are determined by market demand.
  • Taxation of a company listed under REMS: for investors (both individuals and legal entities) All proceeds from the sale of shares that are traded in the REMS segment (and in general on AIX), as well as dividend payments, will be exempt from individual and corporate income tax.
  • The cost of listing in the REMS segment depends on the level of capitalization of the company.

Listing procedure

  1. Initial consultation with the Markets team
  2. Preparation of documents
  3. Signing of a Pre-listing agreement. Payment of 50% of the listing price
  4. Passing the KYC procedure
  5. Development of the Prospectus and other documents
  6. Signing of the Leasing Agreement. Payment of the remaining part of the commission
  7. Inclusion of shares in the official AIX list. Admission to trading

Basic documents

• Application: applications for listing and admission to trading, listing agreement
• Prospectus: advertising document and disclosure of information, understandable and easily analyzed (up to 30 pages).
• Financial statements: audited annual financial statements (not older than 9 months)
If >9 and <15 months + unaudited interim reporting for 6 months
If >15 and <18 months + audited interim financial statements for 6 months
• Information on the issuer: statutory documents, KYC, corporate approvals

Terms

Bringing a company into full compliance with the requirements, as a rule, takes from 1 to 3 years, depending on the current stage (level of preparation) of the company.

Download the file

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