Risky Business; Kazakhstan, Kazakhmys plc & the London Stock Exchange
A Global Witness Report, July 2010
Article posted on 05 Feb 2012
Summary: Kazakhmys plc, a FTSE 100 company which mines copper in the Central Asian nation of Kazakhstan, failed to declare potentially key information about its shareholders and directors when it listed on the London Stock Exchange, thereby exposing investors to unquantifiable risk. The report raises serious concerns about London's "light-touch" market regulation and argues that it would be in the public interest for companies like Kazakhmys to be required to provide much more information to investors about political risk. Global Witness' report also reveals discrepancies in the declarations of the company's shareholding structure.
Topics: Country Risk Due Diligence
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