National Information Technologies JSC raised KZT 3 billion by issuing bonds
On December 27, 2024, National Information Technologies JSC (NITEC) successfully placed its first bonds on the Kazakhstan Stock Exchange (KASE). The company raised KZT 3 billion at 19% per annum.
The bond placement allowed NITEC to enter the debt capital market, which is an important step in the company's further development. The funds raised by placing bonds will be used to develop the information and communication infrastructure ensuring the work of government agencies in Kazakhstan.
A bond is a debt instrument that allows companies to raise funds for development. By buying a bond, an investor receives a fixed income in the form of interest. The company's bonds have been assigned the abbreviated designation (trading code) NITCb1. The first interest payment is expected to be made in June 2025.
National Information Technologies JSC is a leading government digital solutions provider in Kazakhstan. Founded in 2000, the company specializes in providing information and communication services. The company's current projects include the e-Government portal, e-Licensing, the eGov Mobile application, the Smart Bridge project, etc.
See the official website of the Kazakhstan Stock Exchange for details.
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