Capital Markets

Kcell

How can you ensure that investors are educated about your IPO in a foreign market?

Challenge:
Despite its position as one of the leading providers of mobile telecommunications in Central Asia, Kcell was relatively unknown outside Kazakhstan prior to listing in London at the end of 2012 with a market cap of $2.1 billion. At the time of the IPO, Kcell faced several challenges including unsteady equity markets, a lack of understanding of the broader “Kazakh” story, and a widely held perception of poor corporate governance amongst companies in the region. Instinctif Partners provided strategic advice and tactical support to Kcell in the development and implementation of a communications programme to educate investors about the unique opportunity presented by the Kcell IPO.

Action:
We worked with Kcell to develop its messaging and prepare the management team for engagement with analysts, investors and the media both during the IPO process and beyond. We also developed a targeted programme of media engagement in key titles designed to reinforce the positioning of the Company as a leading player in the region with a strong commitment to best practice corporate governance and a clear and compelling equity story.

Result:
Positive coverage in the international financial media helped to raise awareness of Kcell, differentiate the Company from other listings from the region at that time, and drive recognition of its attractive investment case amongst international investors.

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