Baku, Azerbaijan, Mar. 13
By Elena Kosolapova - Trend:
Kazakhstan-based company, Samruk-Energo, plans to join the People's Initial Public Offerings (People's IPO) program before late 2015, according to the first deputy chairman of the company's board, Kanysh Moldabayev.
The People's IPO will allow the citizens of Kazakhstan to become the co-owners of the largest national companies.
"This year, according to the government's plans, Samruk-Energo is projected to join the People's IPO," said Moldabayev in an interview with Trend. "No one has so far cancelled these plans."
Moldabayev said that however all depends on the decision of the company's shareholder - the national welfare fund, Samruk-Kazyna.
He also said that, at the same time, the bringing of Samruk-Energo's shares to the People's IPO is closely related to the implementation of a program for privatization of the company's energy assets.
"These are two interconnected points," said Moldabayev.
The program was joined by the oil transportation company KazTransOil, in 2012, and the Kazakhstan Electricity Grid Operating Company (KEGOC) in 2014.
Samruk-Energo is expected to join IPO in 2015, Kazakhstan Temir Zholy (Kazakhstan Railways) and Kazatomprom in 2016.
Initially, People's IPO program was planned for 2012-2015 and the list of the companies scheduled to take part in this program also included such large state assets as Air Astana airline, KazTransGas gas transmission company, Kazmortransflot National Maritime Shipping Company, Kaztemirtrans and KazMunaiGas oil and gas company. However, later these plans were revised.
The main task of Samruk-Energo is to create a highly efficient power supply system ensuring the sustainable development of all sectors in Kazakhstan. Samruk-Energo's 100 percent of shares is owned by the state through the Samruk-Kazyna National Welfare Fund.
Edited by CN
---
Follow the author on Twitter: @E_Kosolapova