Fund: Purchase of shares in Kazakh national companies under People's IPO must be conscious

Photo: Fund: Purchase of shares in Kazakh national companies under People's IPO must be conscious / Economy news

Kazakhstan, Astana, April 4 / Trend D. Mukhtarov /

The decision on the Kazakh people purchasing shares of national companies under the upcoming People's IPO must be conscious, deliberate and skilled, Kazakh Sovereign Wealth Fund official Kuandyk Bishimbayev believes.

"The stock market is, in fact, a sophisticated tool. It is unpredictable, and therefore all citizens of Kazakhstan should approach investment in shares of national companies seriously and deliberately," Bishimbayev told Trend on Wednesday.

Bishimbayev noted that Kazakhstan has announced an information campaign about the People's IPO program.

"On April 9 an informational web portal, which give answers to all the questions on People's IPO, and a call-center will work, and in regions a training program will be launched, because people should be aware to make decisions," the deputy chairman of the Fund said.

At the same time, he reminded that the Kazakh government has taken measures and brings stable national companies the stock market.

"In addition to ordinary citizens, we offer our pension funds to invest in shares of national companies. This should create a kind of stabilization cushion. But in any case, people should be responsible in making their decisions," said Bishimbayev.

As previously reported, the shares of the largest oil pipeline operator in Kazakhstan KazTransOil will be taken to People's IPO in October 2012.

At present, Kazakhstan is preparing for the implementation of the People's IPO, in which the population will be offered shares of a number of national companies.

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