Norton Rose Fulbright advises Halyk Bank on US$475 million secondary public offering

Norton Rose Fulbright advised JSC Halyk Bank (Halyk Bank) and its shareholder JSC Holding Group ALMEX (ALMEX) on the transaction. The transaction comprised an international offering of global depositary receipts (GDRs) of Halyk Bank by ALMEX carried out on a fully marketed basis. Together with a concurrent domestic offering of common shares and GDRs, the transactions raised gross proceeds of approximately US$475 million for ALMEX. The GDRs were listed on the London Stock Exchange (LSE) and Astana International Exchange (AIX), while the common shares were listed on AIX and the Kazakhstan Stock Exchange (KASE). J.P. Morgan Securities plc, Citigroup Global Markets Limited and JSC Halyk Finance acted as Joint Global Coordinators for the offering. Halyk Bank is the largest financial group in Kazakhstan, holding leading market positions across key banking metrics, including assets, loans, deposits and net income. The group is also a leading provider of general and life insurance services in the country. Norton Rose Fulbright represented Halyk Bank and ALMEX with a team composed by: capital markets partner Jeremy Grant (Paris) who led the cross-border team; US securities partner Nikolai Mikhailov; counsel Alex Green; associate Katherine MacPhail (London); corporate partners Fiona Millington and Thomas Vita (London); associates Sonya Hrytsyuk (Paris) and Thea Messina (London); and trainee Tina Wu (London).

Norton Rose Fulbright advises Halyk Bank on US$475 million secondary public offering

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