Samruk-Kazyna Deputy Chairman: Cost of KazTransOil shares to increase by 10 percent

Photo: Samruk-Kazyna Deputy Chairman: Cost of KazTransOil shares to increase by 10 percent / Kazakhstan

Kazakhstan, Astana, Nov.29 / Trend, D. Mukhtarov /

According to preliminary data, after receipt of applications for purchase of KazTransOil's shares within the "People's IPO" program is completed within the first month cost of shares may rise by 10 percent. Deputy Chairman of the Samruk-Kazyna National Welfare Fund, Kuandyk Bishimbayev made this statement at a press conference in Astana on Thursday. He believes that it is the minimum threshold in price increase, and a 10-percent increase is a good result.

"Therefore, we recommend to buy a great amount of shares in order to receive a substantial profit," Bishimbayev said.

He said as of Nov.28 "KazTransOil" has already received 14,300 applications worth $8.3 billion tenge (KZT 150 = $ 1) through broker companies to buy shares.

In particular, 7,200 applications have been received from physical entities through the "Kazpost" to purchase ordinary shares of KazTransOil worth over $2 billion tenge. Bishimbayev reminded that still eight days are left for people to apply.

The "People's IPO" program will allow Kazakh citizens to become co-owners of the major national companies. The program is designed for 2012 -2015.

Do you have any feedback? Contact our journalist at agency@trend.az

Follow us on Twitter @TRENDNewsAgency