Kazakhstan approves list of companies of Samruk-Kazyna group going private

Photo: Kazakhstan approves list of companies of Samruk-Kazyna group going private / Kazakhstan

Astana, Kazakhstan, April 29
By Daniyar Mukhtarov - Trend:

The Kazakh government approved a list of companies of Samruk-Kazyna, which will be sold under the privatization program, the chief financial director and board member of the Kazakh National Welfare Fund, Samruk-Kazyna, Nurlan Rakhmetov said.

"The Kazakh government and JSC "Samruk-Kazyna" have analyzed all 599 companies included in the structure of the fund over the past few months, and determined the companies that can be transferred to the private sector. Today the list of privatized companies of the fund was finally approved by the government. The majority of the companies will be partially or completely sold out in 2014," he said at a press-conference in Astana.

In accordance with the government decision, various shares of some 106 companies of the JSC "Samruk-Kazyna" will be sold to the private sector.

It is planned to offer for sale of various share and interests in 94 subsidiaries of "Samruk-Kazyna" on the market in 2014-2016, according to Rakhmetov.

"Some 28 companies in the structure of JSC NC "Kazakhstan Temir Joly", 23 - as part of JSC NC "KazMunaiGas", 21 - JSC "Kazakhstan Engineering", 10 - "Samruk-Energo", seven - JSC NAC "Kazatomprom", two - JSC "KEGOC" are subjected to complete or partial privatization," he noted.

Furthermore, it is planned to sell shares in JSC "Maikainzoloto", JSC "KazNII Energy named after Sh.Ch. Chokin" as well as LLP "FN Management" (as a part of JSC "Real Estate Fund" Samruk-Kazyna ").

It is planned to sell 10 percent minus one share of JSC "KEGOC" and 24 percent minus one share of JSC "MEDNC" in 2014, some 20-25 percent of shares of JSC "Samruk-Energo" in 2015, some 10 percent minus one share of JSC NC "Kazakhstan Temir Joly" and JSC "Kazatomprom" in 2016 within the framework of IPO (initial public offering) and SPO (secondary public offering)," he said.

After 2016 it is planned to complete or partial sale of shares in eight companies in the composition of JSC NC "Kazakhstan Temir Joly", as well as four subsidiaries as part of JSC NC "KazMunaiGas", according to Rakhmetov.

"The work on the privatization of assets will take place in maximum transparency, and we intend to permanently publish data on the sale of our assets to the private sector," he said.

The Kazakh government together with JSC "Samruk-Kazyna" has developed a privatization program for 2014-2016 within the framework of the execution of the corresponding orders of the president. It is expected that the implementation of this program is designed to reduce state involvement in the economy of the country and strengthen its foundations by means of increasing share of the private sector in it.

Translated by S.I.
Edited by C.N.

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