BTA says to list in Luxembourg in 2-3 months
BTA, Kazakhstan's third-largest bank by assets, intends to list around 16 percent of its shares in Luxembourg within the next two or three months, Reuters reported.
The share capital of the bank wil be issued on the Luxembourg exchange in the form of global depositary receipts, a BTA spokeswoman said on Friday.
Besides this, BTA plans to float ordinary shares on the Kazakhstan Stock Exchange KASE within a month.
BTA shares are currently held by investors and by Kazakhstan's sovereign wealth fund, Samruk-Kazyna, which acquired its stake during the bank's debt restructuring process.
The bank reduced its net debt to $4.2 billion from $12.2 billion through a debt restructuring programme completed last August.