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Jeffie Lam

Wynna Wong

At least one company under Kazakhstan’s sovereign wealth fund will list on the Hong Kong stock exchange this year, the head of the city’s Trade Development Council has said.
Council chairman Frederick Ma Si-hang on Tuesday also underscored the country’s huge potential, noting that Kazakhstan was seeking to privatise its state-owned companies and Hong Kong had emerged as the ideal location due to its mature capital market.
A high-level delegation organised by the council and led by Chief Executive John Lee Ka-chiu has secured more than 40 wide-ranging partnership agreements in Kazakhstan.
The group is expected to sign additional deals before heading to Uzbekistan on Wednesday.
Ma, who has visited Kazakhstan three times, said he had previously encouraged companies in the Central Asian country to list in Hong Kong but this had failed to happen due to less favourable conditions.

He said he was therefore delighted to witness the change this time, adding that Kazakh companies now better understood how to make use of Hong Kong’s capital market as they became more familiar with the city.
“We were told that at least one portfolio company of their sovereign fund is going to be listed in Hong Kong,” he said.
Last year, tungsten miner Jiaxin International Resources became the first company to debut on both the Hong Kong and Kazakhstan stock exchanges in a dual listing.
Ma said that as Kazakhstan sought to privatise its state-owned companies, Hong Kong had emerged as an attractive option for them to seek listings and raise funds, especially after witnessing the previous successful case.
“There is definitely potential in the market,” he said.
Ma also praised the achievements of the Lee-led delegation, describing the coming launch of direct flights by Cathay Pacific between Hong Kong and Almaty as a breakthrough.
“I hope that the door opened this time will open a lot more doors for Hong Kong and Chinese mainland businesses,” he said.
Ma said the Trade Department Council would play a more active role in bringing Hong Kong and mainland companies to Kazakhstan, while also assisting businesses in the country to set up offices in Hong Kong and take advantage of its financial hub status.
Meanwhile, Executive Council member Jeffrey Lam Kin-fung said the country’s deputy prime minister, Serik Zhumangarin, had expressed an interest in learning more about the Northern Metropolis megaproject after attending a presentation on Hong Kong’s latest development plans.

Lam, who chairs the government-owned Hung Shui Kiu Industry Park Company under the megaproject, said he had introduced the Northern Metropolis as a strategic development initiative and highlighted Hong Kong’s strengths in innovation and technology, research commercialisation, professional services and access to the mainland market.
“He told me, ‘I am very interested’,” Lam said, adding that Zhumangarin had requested more information and indicated he would follow up.
Lam said Hong Kong’s role as a “superconnector” linking the mainland with overseas markets could appeal to Kazakh businesses seeking opportunities in the Greater Bay Area.
Kazakhstan has in recent years sought to diversify its economy beyond traditional industries such as oil and mining, while promoting technology, logistics and international investment, aligning with the Northern Metropolis’ goal to develop into a major innovation and technology hub integrated with neighbouring Shenzhen.


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Hong Kong economy

‘At least 1 firm under Kazakh wealth fund will list in Hong Kong this year’

Chief Executive John Lee and delegation members learn about Kazakhstan’s AI developments during their visit.  Photo: handout

Frederick Ma says Hong Kong is an attractive option for Kazakhstan’s companies. Photo: Jeffie Lam

Jeffrey Lam is a member of the delegation. Photo: Handout

Hong Kong to relaunch direct flights to Kazakhstan’s Almaty in first quarter of 2027

Chief Executive John Lee (third right) and other officials attend a meeting with Baiterek National Investment Holding in Astana. Photo: Handout

Cathay Pacific has said it will operate three weekly flights to Almaty, starting from the first quarter of next year. Photo: Elson Li

Hong Kong media groups sign Kazakhstan deals to deepen journalism, business ties

The Astana International Financial Centre (AIFC) in Kazakhstan. Photo: AIFC

Khabar Agency chairman Kemelbek Oishybayev flanked by Crystal Cheung and Tammy Tam. Hong Kong media groups say the visit to Kazakhstan will foster deeper collaboration with Central Asia. Photo: Jeffie Lam.

Chief Executive John Lee (fifth right) and SCMP publisher Tammy Tam (second left) attended a business luncheon in Astana, where MOUs were signed in the presence of Serik Zhumangarin, the deputy prime minister and minister of national economy in Kazakhstan (sixth right). Photo: ISD

Make use of Hong Kong’s advantages, John Lee urges Kazakhstan leaders, companies

John Lee (left) meets the president of Kazakhstan,  Kassym-Jomart Tokayev, on the first day of his trip. Photo: ISD

John Lee (third left) visits AIFC in Kazakhstan. Photo: ISD

John Lee visits AIFC with Kazakh minister for AI and digital development Zhaslan Madiyev. Photo: Handout

John Lee (left) poses for a picture with AIFC governor Renat Bekturov. Photo: ISD

John Lee (left) with Deputy Prime Minister Serik Zhumangarin in Astana. Photo: Handout

John Lee (front row, right) learns about Kazakhstan’s latest AI developments at AIFC. Photo: Handout

Law Society president Roden Tong (left) with AIFC board chairman Bakhtiyar Tleubekov. Photo: Jeffie Lam

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Hong Kong

Hong Kong Economy

Trade Development Council chairman Frederick Ma points to Kazakhstan’s huge potential as it seeks to privatise state-owned companies


Trade Development Council chairman Frederick Ma points to Kazakhstan’s huge potential as it seeks to privatise state-owned companies.


‘At least 1 firm under Kazakh wealth fund will list in Hong Kong this year’

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Trade Development Council chairman Frederick Ma points to Kazakhstan’s huge potential as it seeks to privatise state-owned companies

Trade Development Council chairman Frederick Ma points to Kazakhstan’s huge potential as it seeks to privatise state-owned companies