Kazakhstan plans IPOs for major companies by 1H18

Business Materials 16 January 2018 13:04 (UTC +04:00)

Baku, Azerbaijan, Jan. 16

By Nigar Guliyeva – Trend:

Managing Director of Samruk-Kazyna JSC Nurlan Rakhmetov announced the terms of placement of shares of Kazakhtelecom, Kazatomprom and Air Astana for the IPO.

"Particular attention is paid to the privatization of the seven largest national companies, three of which are already preparing for possible IPO deals. Particularly, the Fund is considering the possibility of placing Kazakhtelecom's shares before the end of the first half of 2018, and preparations underway for holding IPO of Kazatomprom and Air Astana by the fourth quarter of 2018, " Rakhmetov said at a government meeting on Jan.16.

He stressed that more information is needed on the financial condition of companies and world prices for raw materials to define the exact date.

"The work is underway on determining the key parameters of possible IPOs, which are planned to be held in 2019-2020, with respect to the companies KazMunaiGas, Samruk-Energo, Kazpost and Kazakhstan Railways," Rakhmetov said.

National Economy Minister Timur Suleymanov earlier informed that a platform will be prepared in 2018 for participation of the Astana International Financial Center in the IPO.

Previous reports said at least 25 percent of the shares of the largest national companies of Kazakhstan will be privatized within the planned IPO program.

The current privatization program, which began in 2014 and will last until 2020, includes 783 companies, both large and small.