Investing in Kazakhstan ADRs / Kazakhstan Stocks List

Aside from any London listed GDRs that might trade on the OTC, retail brokerage and investment bank Freedom Holding Corp (NASDAQ: FRHC), who operates in Central Asia and Europe, plus shell company Oxus Acquisition Corp (NASDAQ: OXUS) are the main Kazakhstan ADRs available to American investors. In addition, Kazakhtelekom AO (OTCMKTS: KZHXY), is the largest telecommunication company in Kazakhstan, but it trades on the OTC Grey market.

Its worth mentioning that Kazakhstan is the largest and strongest performing economy in Central Asia thanks to oil and gas. The country also has abundant mineral resources – making it a potentially attractive investment choice for adventurous frontier market investors.

Investors interested in investing in Central Asia ADRs should also check out our Central Asia ETF list page.

List of Kazakhstan ADRs Trading on Major US Stock Exchanges & the Over-the-Counter (OTC) Exchange

	Company	Ticker	Exchange	Industry
1	Freedom Holding Corp	FRHC	NASDAQ	Financial Services
2	Kazakhtelecom JSC	KZHXY	OTCGrey	Telecommunications
3	Oxus Acquisition Corp	OXUS	NASDAQ	Shell Company

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Note: If there are any ADRs to add or remove from this list or there are bad links, please write a note in the comments section so it can be fixed. Likewise, adding any other comments or advice would also be appreciated.

The Kazakhstan Stock Exchange (KASE)

The Kazakhstan Stock Exchange (KASE) was formed in 1993 as a currency exchange with the trading of government securities, futures contracts and finally equities beginning in subsequent years.

Kazakhstan Stocks and Investing Resources

Here are some useful and mostly English news resources for investing in Kazakhstan ADRs or stocks or about Kazakhstan in general:

• Ak Zhaik
• Astana Times
• Central Asian News Service
• Kazecon
• Khabar Agency
• Nur.kz
• Tengrinews.kz
• The Times of Central Asia

For additional resources for investing in Kazakhstan ADRs or stocks, check out all of our Kazakhstan tagged articles/links.

• Investors Trapped in Russian Bonds Find Buyers in Kazakhstan (Bloomberg via Yahoo!)
• Asian Frontier Markets See a Strong Rebound in August – Asia Frontier Capital (AFC) – August 2022 Update
• May 2022 Update: Invest Through the Cycle to Generate Long Term Returns (Asia Frontier Capital)
• Turbulence Across Eurasia Will Not Slow Kazakhstan’s Progress (National Interest)
• Kazakhstan: Richest Country in Central Asia (Asia Frontier Capital)
• Kazakh Strongman Leaves Unfinished Business in Rush to Secure Legacy (Nikkei Asian Review)
• 2017 Global Retail Development Index (ATKearney)
• Russia, Kazakhstan and China are Buying Gold (The Diplomat)
• ING IM’s Ruijer: China and the Fed are the Biggest Risks to Frontier Markets (Citywire)