ECA50 releases its debut regional frontier equity index of the 50 largest publicly traded companies

ECA50 releases its debut regional frontier equity index of the 50 largest publicly traded companies

ECA50 released the first stock index of the biggest 50 traded companies in Emerging Europe and Central Asia / bne IntelliNews

By ECA50 February 20, 2024

ECA50 Plc developed its debut regional equity index of the 50 largest public companies in the frontier Europe and Central Asia (ECA) region.

Kazakhstan's flag carrier Air Astana made its long-awaited IPO on February 9, 2024, and the region's largest and first publicly listed airline has been included in the ECA50 Equity Index. The total market capitalization of 50 listed companies is $91bn, as of February 9.

Kazakhstan dominates the index, with its 11 companies representing 62% of the total market capitalization.

NYSE-listed EPAM Systems was originated in Belarus, and before February 24, 2022, the largest share of its staff worked in Minsk.

Uzbekistan is ranked third, followed by Georgia, Mongolia, and Ukraine.

Nasdaq-listed VEON is the ECA region's sole company with sizeable operations across multiple countries (Ukraine, Kazakhstan, Uzbekistan, and Kyrgyzstan) and without a clear single home market. The company was originally founded in Russia and was one of the leading Russian telecoms companies. But since war in Ukraine started, like many big Russian companies not working in raw materials, it has sold its Russian operations and now VEON, registered in the Netherlands, has all its assets outside of Russia.

Certain companies have not been included in this index due to not meeting selection criteria.

ECA50 Emerging and Frontier market top 50 equity Index

#stocks #Kazakhstan #Uzbekistan #Kyrgyzstan #Tajikistan #Turkmenistan #Afghanistan

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