One local investment bank in Almaty, the capital of Kazakhstan whose name means 'city of apples', managed to pluck a low hanging fruit this week in the shape of a potential £500m flotation on the London Stock Exchange – by securing the role of the listing’s domestic expert.

Visor Capital was on Tuesday named as the local investment bank working on the domestic offering of the initial public offering of Kcell, a Kazakhstani provider of mobile telecommunications services, Kcell said it plans to list on the LSE by mid-December. The IPO is a result of Sonera Holding, a subsidiary of Swedish telecoms operator TeliaSonera, selling its 25% stake in the company.