Kazakhstan, Astana, Dec. 7 / Trend D. Mukhtarov /
Upon completion of applications submittal for the purchase of KazTransOil shares within the People's IPO, the volume of applications reached 55.9 billion tenge (KZT $ 1-150), which is twice more than the volume of the placed shares, the press service of KazTransOil JSC said.
"Kazakh citizens have submitted applications to the amount of 18.7 billion tenge, which accounts for 67 per cent of the placed shares. The average amount of applications submitted by individuals stands at about 740.000 tenge," the company's press service said.
According to preliminary results, some 25.218 applications were submitted including 25.207 applications from Kazakh citizens and 11 applications from pension funds and the market-maker.
According to the report, the final number of applications will be defined after December 10, 2012, following the complete transfer of applications to the Kazakhstan Stock Exchange (KSE) JSC. The KSE will pass a register of applications for the purchase of shares received from retail investors (Kazakh citizens) and Kazakh pension funds to KazTransOil.
'Those who failed to submit applications till the deadline may purchase shares after the opening of secondary trading at the Kazakhstan Stock Exchange starting December 25', the press release stated.
Submission of applications by Kazakh citizens and pension funds established under the laws of Kazakh Republic for the purchase of common shares of KazTransOil JSC placed on the securities market under the People's IPO state programme was completed at 19:00 on December 5, 2012.
The subscription was carried out in accordance with the 'Rules of share subscription', approved by the decision of Kazakhstan stock exchange (Protocol N 05 as of 29.03.2012) and agreed with the Central Depository for Securities JSC and the Committee for Control and Supervision of Financial Market and Financial Organisations of Kazakh National Bank.
According to the subscription terms, brokerage firms are required to file only secured paid for applications. KazTransOil JSC reserves the right to refuse or fail to satisfy any unsecured applications.
KazTransOil is the largest Kazakh oil transporting company owning diversified network of main oil pipelines and submerged lines with an overall extension of 8000 kilometres. KazTransOil transports its products for export and the internal market using about 59 per cent of oil produced in the country.