KazTransOil’s share price within People's IPO program announced
Azerbaijan, Baku, Oct. 29 / Trend E. Kosolapova/
Kazakh Sovereign Wealth Fund Samruk-Kazyna has determined the price for KazTransOil company's shares within People's IPO program, Novosti-Kazakhstan quoted Samruk-Kazyna's Deputy Head Kuandyk Bishimbayev as saying.
"The Board of Directors of Sovereign Wealth Fund Samruk-Kazyna has determined the prices on KazTransOil's shares. A price per share has been approved at 725 tenge (150.56 tenge = $1), "Bishimbayev said.
In October Kazakh citizens will be offered to purchase 10 percent or 40 million of KazTransOil's shares within People's IPO program.
The People's IPO program should enable people to become owners of shares of the country's largest companies, promote the shares, and develop Kazakhstan's stock market.
The program envisages a phased placement of the shares of the biggest and stable state companies on the stock market. KazTransOil company will first conduct IPO. The shares of KEGOC, Air Astana, Kazmortransflot, Samruk-Energy and KazTransGas will be placed in IPO in 2013. Kazakh Railway, Kaztemirtrans, Kazatomprom, KazMunaiGas will hold IPO in 2014-2015. The program was developed under Kazakh President Nursultan Nazarbayev's order.