Financier №4 (40) 2025

Why is telecom so interesting to investors today?

In recent years, market attention has noticeably shifted toward FinTech, payment services, the telecom sector, and companies operating in digital investments. This is a long-term trend: technology is becoming a key driver of economic growth. Today, we host more than 4,500 companies, and the share of players from developing countries is expanding. Nasdaq supports companies across a wide range of regions that are looking to go public, as investors seek new opportunities in markets outside traditional financial centers.

Have telecom companies become more interested in listing on Nasdaq?

Yes, quite noticeably. The US market remains the most liquid and technologically advanced in the world. It attracts companies ready to scale and compete globally. We are excited to collaborate with businesses that are literally changing the world, and we believe that many of those going public today will play an important role in the market over the coming decades.

How do you assess the potential of Central Asia in terms of future listings?

If I did not believe in the future of the region, I would not have come to Almaty, Kazakhstan. Currently, two Kazakh companies are represented on Nasdaq: Freedom and Kaspi. This is just the

beginning. Business is not limited to a single market, but is developing all over the world: in Kazakhstan, Israel, Argentina, Singapore, Japan, Silicon Valley, and Texas. We expect that more businesses from Central Asia will be ready for an IPO.

What challenges do companies face when going public?

Preparing for an IPO can seem like a daunting task, and we are committed to making the listing process simpler and more transparent. Together with the SEC, we are reducing the bureaucratic burden and simplifying reporting procedures. The status of a public company always comes with additional responsibilities: you need to work with thousands of investors, maintain clear communication, and strengthen corporate standards. Since 2005, Nasdaq has been developing technologies and services that help companies effectively interact with the market and manage their public status.

How important are ESG* principles for modern investors?

Social responsibility within ESG and CSR** frameworks is especially important for the new generation of investors. They seek to invest in companies that consider the long-term impact of their business on society and the environment. Even if the political agenda changes, society’s demand for sustainability remains. I see this in my own family: my children invest and pay close attention to ESG factors.

*ESG refers to principles of business development based on environmental and social responsibility

**CSR refers to corporate social responsibility 

What is the role of artificial intelligence in the development of telecom?

AI affects data processing, robotics, communications, and infrastructure. As during the dot-com era, we will see periods of rapid growth and correction, but these are precisely the moments when companies that define the future are born, as was the case with Amazon.

What opportunities does this open for Central Asia?

Many companies in the region are created as digital businesses from the start, without the need to rebuild legacy infrastructure. This allows them to scale faster. The accelerated development of advanced technologies makes the region increasingly attractive to global investors.

Which companies will lead Nasdaq in twenty years?

Today, technology companies are leading the pack, with healthcare companies accounting for about a third of Nasdaq listings. This exchange played a major role in building that sector, particularly for developers of life-saving therapies. Technology itself is becoming the backbone of almost every industry. This development creates healthy competition, ultimately benefiting both markets and investors.