Pre-placement price of Kazakh Mangistau Electricity Company shares revealed
Astana, Kazakhstan, Dec. 2
By Daniyar Mukhtarov - Trend:
Pre-placement price of common shares of Mangistau Electricity Distribution Network Company JSC is 5 147.8 KZT ($1-180, 87 KZT), said the press service of the JSC Dec.1.
"The common shares of the company are listed on KASE (the Kazakh stock exchange), the official list of securities and are registered under national identification number (NIN) KZ1C24600013," said the message of the JSC.
A Secondary Public Offering of shares of the Mangistau Electricity Distribution Company JSC is planned to be held on the Kazakh Stock Exchange from November 24, 2014 to December 10, 2014. Some 482,338 ordinary shares of the company (24 percent + 1 share) will be offered for sale during the secondary public offering of shares.
The seller is the company's largest shareholder, Samruk-Energo JSC.
MEDC JSC was established in 1996, and is the largest power distribution company, which provides transportation of electricity to consumers of Mangistau region (excluding Aktau). It has the status of a subject of a natural monopoly.
Key investment highlights: Some 98 percent of consumers are represented by legal entities, including large industrial consumers of oil and gas sector; stable dividend payments, at least 15 percent of the net profit; growth in sales volumes and revenue by 70 percent compared to 2010; net profit growth from 58.3 million KZT to 1156 million KZT for 2010-2013; low level of technical losses in networks - the best indexes among Kazakh EDC (electricity distribution companies).
Asyl Invest JSC is the financial consultant and bookrunner for this secondary offering. Placement of ordinary shares of Mangistau Electricity Distribution Company JSC is held by subscription at KASE.
Asyl Invest JSC organizes a series of information sessions in Astana, Almaty and Aktau and offers potential investors the opportunity to obtain detailed information on the placement.