Thursday July 11 2019
News Source: Global Exchanges
Focus: General - Global Exchanges
On 10th July 2019, the Astana International Exchange (AIX) announced the introduction of AIX Mining Rules (approved by AIX Board on 2nd of July) that are intended to provide a regulated listing platform for mining companies in Kazakhstan and the region to raise capital on AIX.
A two-tier approach has been adopted for the Rules:
Tier 1 accommodates larger issuers in advanced stages of development.
Tier 2 concentrates on smaller, junior issuers, at the early stage of development.
The Mining Company Rules are designed to balance attractiveness for issuers and investor protection and reflect the nature of investments in the mining sector. The issuers will be required to demonstrate adequately experienced management, suitably qualified technical personnel and experts, as well as a Competent Person’s Report compliant with either of the JORC, NI 43-101 or KAZRC standards.
AIX conducted several rounds of consultations on the Rules with a range of industry representatives, professional associations and governmental bodies. In addition, a positive response has been received both from potential issuers and investors.
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