Outline:
1. Executive summary 3
2. Acknowledgements
4
3 Introduction 5
3.1. Objectives 5
3.2. Methodology 5
3.3. Scope 5
3.4. Limitations 5
3.5. Literature review 5
4. Findings and Analysis 6
4.1. Oil and Gas industry overview and outlook 6
4.2. EP KazMunayGas company 7
4.3. IPO on LSE and KASE 9
4.3.1. Reasons for IPO on LSE and KASE 9
4.3.2. Process of IPO for EP KazMunayGas 10
4.3.3. After the IPO 11
5. Analysis of EP KazMunayGas cross-listing 12
5.1. Stock Price on KASE versus stock price on LSE 12
5.2. Identification and analysis of arbitrage opportunities between two stock exchanges 17
5.3. Results of Eviews and Granger tests
22
6. Conclusion 25
7. Literature Review 26
1. Executive summary
Cross-listing of Exploration & Production KazMunaiGas JSC between LSE and KASE
The IPO is becoming more important for local companies in Kazakhstan, since it provides more perspective opportunities and the access to international financing. EP KazMunayGaz was a pioneer among Kazakhstani companies to have its stock listed at LSE. The main objective of this research is to define whethe ...