Report
Ildar Davletshin ...
  • Raffaella Tenconi

EME Macro: Kazakhstan – ready to take off again

Kazakhstan shares many similarities with other emerging and frontier markets, so it is arguably not a unique market for a seasoned investor. Yet, a few things catch our eye each time we travel to this country, and each time we leave convinced that it offers a few compelling investment opportunities that are hard to find elsewhere. In this report, we share our thoughts on the country’s ambitious plans to transform itself from a state-dependent economy, heavily reliant on natural resources, into a modern, vibrant market. We discuss Kazakhstan’s current and future macroeconomic issues, as well as the possible risks facing the country and potential investors.
Underlyings
Nostrum Oil & Gas Plc

Nostrum Oil & Gas is an independent oil and gas company, engaged in the production, development and exploration of oil and gas. Co. operates three exploration concessions and are primarily conducted through its oil and gas producing subsidiary Zhaikmunai LLP located in Kazakhstan. Zhaikmunai LLP carries out its activities in accordance with the Contract for Additional Exploration, Production and Production-Sharing of Crude Hydrocarbons in the Chinarevskoye oil and gas condensate field for the exploration and production of hydrocarbons in Chinarevskoye oil and gas condensate field.

Provider
Wood and Company
Wood and Company

WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.

A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.

Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.

We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.

Analysts
Ildar Davletshin

Raffaella Tenconi

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