Kazakh KEGOC not to enter People’s IPO program in 2013
Baku, Azerbaijan, Nov. 6
By Elena Kosolapova - Trend: Kazakhstan Electricity Grid Operating Company (KEGOC) will not place its shares within People's IPO program in 2013, Novosti-Kazakhstan reported on Nov 7.
"We are in the middle of November, not so much time left until the end of 2013," KEGOC's Chairman of the board Bakytzhan Kazhiev said.
"We need to update all the necessary documents from the spring of 2013, several orders and a presidential decree should be issued. I do not think we will do it until the end of the year," Kazhiev said at a briefing in central communications service for Kazakh president.
According to Kazhiev, KEGOC has implemented all the internal procedures for the IPO program and if the government takes decision, the company will place its shares within the program in six month.
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 joined the program.
Initially five Kazakh National companies (KEGOC, Air Astana, KazTransGas, Samruk-Energy and Kazmortransflot) were scheduled for participation in People's IPO program in 2013. Meanwhile according to the latest People's IPO schedule, only KEGOC was planned to make placements within the program in this period.