Kazakhstan, Astana, Feb. 11 / Trend A. Maratov /
Kazakh President Nursultan Nazarbayev instructed to place the shares of the largest Kazakh companies on the stock market of the country in the nearest future.
"I instruct the government to develop a program to place the shares of national companies, including Samruk-Kazyna fund - The People's IPO, among the population for the first time," Nazarbayev said at a congress of the Nur Otan party on Friday.
The President instructed to place the shares of such companies as Samruk-Energo, Kazpost, and KEGOK on the stock market by late 2011.
The shares of the largest Kazakh companies, such as KMG, Kazakhstanenerzhaly, and Kazatomprom will be put on the domestic stock market in 2012 and 2013.
The president said the government must involve foreign companies in this process.
"The People's IPO will provide hundreds of thousands of Kazakhs with the opportunity to purchase shares of major companies and will give a new tool for financing," Nazarbayev said.
As an example, the president mentioned the United States, where 40 percent of the population hold shares of major companies.