Azerbaijan, Baku, Feb. 12 / Trend E. Kosolapova/
The list of companies intended for participation in People's IPO program in Kazakhstan can be changed, independent financial analyst Damir Seisebayev told Trend by e-mail.
"I do not rule out any changes, it is common practice. The IPO program is under special care. The value of the companies and the situation in the market are carefully being assessed to choose the best time to place its shares," Seisebayev said.
The preliminary list of companies intended for People's IPO program in 2013, includes Samruk-Energy, KEGOC, Kazmortransflot and KazTransGas. But this list is just a plan and any plan can be adjusted in time and number of participants, depending on the internal and external factors, the expert said.
"I doubt of all four companies may be successfully placed within the program in the remaining ten months and a half. First, the interval is too short. The citizens need more time to study new issuers. Second, the demand for shares from the pension funds is not yet clear due to their uniting," Seisebayev said.
But in general, there is an interest for the program in the country and it has probably grew up after the successful placement of KazTransOil's shares, the expert said.
According to Seisebayev, the demand for shares of other program's participants and in particular of Kazakhstan Electricity Grid Operating Company (KEGOC) will depend on the offered price.
"The IPO of KazTransOil showed that it is under control, so I do not see any special obstacles to its success. KEGOC can repeat the success of KazTransOil," Seisebayev said.
All the companies intended for IPO, have been pre-qualified and have good fundamental characteristics, he said.
The People's IPO will allow Kazakh citizens to become co-owners of the nation's largest companies. It is projected for 2012-2015. In 2012, KazTransOil entered the program. Earlier, Kazakh Prime Minister Serik Akhmetov said that KEGOC shares will be placed within People's IPO program in the first half of 2013.