Shareholders of large Kazakh bank redistribute shares

Business Materials 5 August 2015 17:21 (UTC +04:00)

Baku, Azerbaijan, Aug. 5

By Elena Kosolapova - Trend:

One of the large shareholder's of Kazakhstan's Kazkommertsbank JSC ("the Bank" or "KKB"), Nurzhan Subkhanberdin has sold 22,526,438 KKB common shares, representing 2.82 percent of the total amount of issued common shares, to Kenes Rakishev, one of the bank's major shareholders, said the message from the bank August 5.

This transaction is in line with the terms of the integration process between KKB and BTA, which was approved by both banks' extraordinary general shareholding meetings on December 26, 2014.

As a result of this transaction, the shareholding structure is as follows: Central Asian Investment corporation JSC (CAIC) - 23.27-percent share (including the shares received under trust agreement from Subkhanberdin, the total share is 28.67 percent); Nurzhan Subkhanberdin - 5.99-percent share (including the shares held indirectly through CAIC, the total share is 26.28 percent); Alnair Capital Holding JSC - 28.08 percent of global depository receipts (GDRs) and shares; Samruk Kazyna Sovereign Wealth Fund - 10.72-percent share; Kenes Rakishev - 28.67-percent share and minority shareholders - 3.27 percent of GDRs and shares.

Kazkommertsbank is one of the largest banks in Kazakhstan and Central Asia. The bank's equity for ensuring capital adequacy stood at 416 billion tenges (187.65 tenges = $1) as of December 31, 2014.

Edited by CN

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