The Federation of Euro-Asian Capital Markets
74 75
About Company
Kazakhstan Stock Exchange
Established: November 17, 1993
Address: 8th floor, Northern tower of Multifunctional Complex Almaty Towers, 280 Baizakov Str., Almaty, 050040,
Contact Name: Akmaral Sabyrbayeva
Email: a.sabyrbayeva@kase.kz
Website: www.kase.kz
- Joined FEAS in 1997-
Alina Aldambergen
Chairwoman
Year in review
2024 became a period of dynamic growth and strengthened international cooperation for the Kazakhstan Stock Exchange (KASE), defining the year as an outstanding success in terms of market performance and strategic development.
KASE remains the primary platform for businesses in Kazakhstan to raise funds for their development.
The trading volume in the securities market grew by 15% in 2024 compared to the previous year, reaching USD 28 billion. This is also reflected in the substantial increase in the number of transactions, which grew by 2.1 times compared to 2023, reaching 2 million in 2024 in the securities market. KASE successfully executed Air Astana JSC's 2024 IPO, placing 76% of the offered shares on the KASE market and including them in the KASE Index Representative List. KASE's equity market capitalization experienced substantial 7% growth in 2024 compared to the previous year, reaching USD 62.8 billion. KASE Index set a new all-time high, surpassing 5,600 points and hitting a record peak of 5,624.38 points on December 5, 2024. It surged by 33 % in 2024, closing the year at 5,578.10 points.
In 2024, KASE achieved a record year for corporate bond listings, reflecting a robust corporate bond market. The trading volume of corporate bonds increased by 91% in 2024 compared to the previous year, reaching USD 9.2 billion.
In 2024, KASE facilitated 7 SME bond issuances with subsidized coupon rates, totaling USD 37.5 million, of which USD 35.4 million was placed, marking a 2.9-fold increase in issuances and a 3.1-fold increase in placements compared to 2023. By the end of 2024, KASE’s ESG bond issuance totaled USD 1.5 billion, with USD 1,048.5 million issued in 2024 alone, a 5.9-fold increase from 2023.
The foreign currency market experienced 24% growth in 2024, reaching USD 81 billion.
The money market decreased by 11 % in 2024, reaching USD 722 billion. There was drawdown on liquidity due to issuance of bonds and increased lending activities by banks.
In 2024, KASE continuously expanded its international presence, enhancing the visibility of Kazakhstan’s financial market on the global stage, hosting international events.
In 2024, KASE effectively navigated challenges due to increasing risk of sanctions in the region and continuing geopolitical risks and as result shift in the FX market towards different pairs of currencies. However, KASE continued to advance its technological modernization to meet market requirements, bolstered infrastructure resilience, particularly in response to early-year earthquakes, ensuring continued stability and growth of Kazakhstan's capital markets amid a dynamic external environment.
The year 2024 marked the completion of our three-year strategy and the assessment of our achieved results. KASE successfully completed its 2022-2024 Strategy, achieving key goals such as boosting market liquidity, fostering innovation advancing technological modernization, and