Кыргызская фондовая биржа

The Ministry of Finance of the Kyrgyz Republic (MoF KR) became the key shareholder of CJSC Kyrgyz Stock Exchange (KSE) and CJSC Central Depository (CD)

One of the brightest events in the financial market of the country in the past 2023 year was the fact that the Ministry of Finance of the Kyrgyz Republic now owns 28.55% of shares in the authorised capital of KSE, and 50% of shares in the authorised capital of CD. In other words, the state became the largest shareholder of these important financial institutions.

It should be noted that the movement towards such a broad activation of the state's participation in the development of the country's financial market was given a boost by the Decree of the President of the Kyrgyz Republic "On Measures for Further Development of the Stock Market and Exchange Activities", which was approved back in November 2022. It was in the Presidential Decree that such priority tasks were clearly formulated and set, which will allow transforming the KSE and CD into backbone national institutions capable of implementing socially important economic projects in the country, including with the participation of the state to improve the competitiveness of the national stock market in the international financial market.

In the framework of implementation of this Decree, the Cabinet of Ministers of the Kyrgyz Republic released the Resolution "About acquisition of additionally issued shares of CJSC "Kyrgyz Stock Exchange" and CJSC "Central Depository" dated 24 November 2023, No. 625, which completed the process of the state's entry represented by the Ministry of Finance of the Kyrgyz Republic into the key shareholders of KSE and CD.

In this connection, extraordinary meetings of shareholders of CD and KSE were held on the 19th and 25th of December 2023, accordingly, at which decisions were made to increase the number of circulating shares by issuing additional shares in favour of the state represented by the Ministry of Finance of the Kyrgyz Republic.

Already on the 29th of December 2023, the decision of the Financial Market Regulation and Supervision Service recognised the results of the issue of common registered shares of KSE and CD and registered them in the Unified State Register of Securities of the Kyrgyz Republic.

It is expected that the state's entry into the capital of KSE and CD will greatly contribute to the modernisation of the technical potential of these institutions and will open up opportunities for the development of new areas of activity, including the organisation and creation of improved conditions for the placement and circulation of government securities. Also, the new public-private partnership will enable the activation of other important sectors on the exchange, such as precious metals, foreign exchange, commodities and others.

The Ministry of Finance of the Kyrgyz Republic and KSE intend to carry out large-scale joint activities and implement the most important development projects of the country. Experts are confident that the presence of the state represented by the Ministry of Finance of the Kyrgyz Republic as a shareholder will give a new impulse to further successful development of the domestic financial market of the Kyrgyz Republic.