Central Asian companies are exploring new ways to access international capital, focusing on the Astana-Hong Kong route. During an SCMP Live panel in Astana, representatives from AIX, HKEX, and venture capital firms discussed the move toward diversifying financing beyond traditional resource and trade links.
Assel Mukazhanova, CEO of AIX, noted that Kazakhstan's natural-resource base creates a demand for financing that the domestic market cannot meet. To address this, AIX is seeking to establish links with multiple global financial centers to help companies choose the appropriate market for their growth stage.
Thomas G. Tsao of Gobi Partners highlighted that listing on the Hong Kong Stock Exchange (HKEX) can provide frontier-market companies with greater investor confidence due to its regulatory standards. He compared this effect to the why early Chinese startups previously sought listings on Nasdaq.
Askar Bilisbekov of Alem Capital Management shared a private-market perspective, noting that the company is currently managing two funds, including a venture capital fund that invests regionally and globally, and is planning an infrastructure fund.
The discussion also emphasized the role of the role of the region's young, digital-native population. Thomas G. Tsao noted that their ability to speak English and Chinese and their education in the West makes them an advantage for companies operating across major global markets.
