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'People's IPO' expected in early 2012

Business Materials 27 October 2011 14:39
The first companies of the Samruk-Kazyna National Welfare Fund will float shares in the "People's IPO" in early 2012, Deputy Chairman of the Fund Board Kuandyk Bishimbayev said.
'People's IPO' expected in early 2012

Azerbaijan, Baku, Oct. 27 / Trend /

The first companies of the Samruk-Kazyna National Welfare Fund will float shares in the "People's IPO" in early 2012, Deputy Chairman of the Fund Board Kuandyk Bishimbayev said.

"The process is well under way. We have set the task to float shares on of the companies in late first quarter-early second quarter of 2012," Bishimbayev told an online conference on the portal Bnews.

Supposedly, he said, the largest operator of oil pipelines in Kazakhstan KazTransOil and the national company of electricity transmission networks KEGOC will be the first companies to list on the domestic stock market in 2012, Novosti-Kazakhstan reported.

"We plan to float shares of KEGOC and KazTransOil in 2012. They are now in the active phase of preparation for the IPO program. It is planned that will be removed 10-15 percent of the 100-per cent stake in these companies," he said.

Kazakhstan plans to start floating shares in several national companies in its "people's IPO" in the second or third quarter of 2012, Economy Minister Kairat Kelimbetov said earlier.
Kelimbetov said that between 5 percent and 15 percent of shares in national companies would be sold on the local market.

He said that after floating shares in Air Astana, KEGOC and KazTransOil, another wave of flotations would follow in 2013.

This would include shares in national gas transportation company KazTransGas, state sea shipping company Kazmortransflot and Samruk-Energo, a subsidiary of sovereign wealth fund Samruk-Kazyna which controls state power generating assets.

National rail monopoly Kazakhstan Temir Zholy is slated for privatization in 2014-2015
National oil and gas company KazMunaiGas and uranium miner Kazatomprom -- will go public after 2015, "because they are more susceptible to market volatility", he said

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