Kcell receives Best IPO Award at 10th Annual East Capital Awards, 2013
Kcell Joint Stock Company (“Kcell” or the "Company") (LSE, KASE: KCEL), the leading provider of mobile telecommunications services in Kazakhstan by market share in terms of revenue and subscribers, has won the Best IPO Award at the tenth annual East Capital Awards, 2013.
Kcell Chief Executive Ali Agan accepted the award at the East Capital Awards ceremony held in Stockholm on November 7, 2013. The East Capital Awards celebrate achievement in emerging and frontier markets.
Mr Agan said: “It is a great honour to receive this prestigious award for Best IPO at the tenth annual East Capital Awards. “Kcell has established a clear leadership position in its markets with EBITDA margin above 55% and is delivering strong returns for shareholders following its listing on the Kazakh and London stock exchanges at the end of 2012. This award is a strong endorsement of the dedication and professionalism of Kcell’s management team and its people.”
Peter Elam Håkansson, Chairman of East Capital, said:
“The East Capital Awards recognise the outstanding achievements of companies in our investment universe. Through our ongoing research, extensive company visits and investment in the region, we identify companies each year that have achieved impressive results and demonstrate exciting potential.
“Kcell is well known for its strong management team and issuing one of the highest dividends among telecom companies worldwide. Even though the company operates in a very competitive environment, with cuts experienced in the sector both in new mobile subscription as well as contract termination rates, Kcell has managed to keep its subscriber market share of 50% and its profits intact. Since the IPO in December 2012, the stock has yielded a 67% return for shareholders in USD.”
Further information on the awards can be viewed at www.eastcapital.com