Jusan Bank Has Acquired 9% of Ordinary Shares of Kazakhtelecom JSC
First Heartland Jusan Bank JSC (Jusan Bank, the ‘Bank’) hereby informs of acquiring 983K ordinary shares of Kazakhtelecom JSC at Kazakhstan Stock Exchange JSC (KASE), which comprises 9% of the total outstanding ordinary shares of the national telecoms operator.
The shares were acquired through a public sale. The acquisition price is the КАSE market price at the time of acquisition.
The Bank has acquired the shares of Kazakhtelecom JSC as an addition to the shares of Kcell JSC it already owns as part of its strategy aimed at building a financial entity with a high digital business share.
Kazakhtelecom JSC is a national telecoms operator with a large client base and a high service penetration level, and, as such, the Bank views this investment as a consistent action towards further implementation of the retail business development strategy.
The Bank has previously succeeded in delivering a banking-as-a-service collaboration (OGO Bank) with Kcell JSC. Furthermore, the Jusan Group incorporates Jusan Mobile JSC — a leading telecoms operator rendering a variety of telecoms and IT services. The Bank has also launched the Jusan Mobile operator powered by the Tele2/ALTEL network.
In pursuance of its current strategy, the Bank shall proceed looking for options to synergise with telecoms companies, including those where it has shares.
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