Baku, Azerbaijan, October 1
By Nargiz Sadikhova - Trend:
Up to 6.2 percent of common stock of National Atomic Company (NAC) Kazatomprom JSC may be sold before the end of 2020, Head of Asset Management Directorate of Sovereign Wealth Fund Samruk-Kazyna Almassadam Satkaliyev said, Trend reports with reference to Kazakh media.
“Complex plan of privatization is designed for 2016-2020, and we are planning to take into consideration the satiation on the market. We are not ready to name the timeframe yet as this will depend on the condition of investments community and on plans on funding attraction,” Satkaliyev noted.
He added that initially, the fund planned to place 2.5 percent of Kazatomprom stock. The main request of the investors was the liquidity restrictions and the limited number of stock in circulation.
“In order for a company to be considered an active player, the liquidity should be no less than $500 million and we have fulfilled our duties. We have replenished the National Fund, and increased the liquidity to necessary level for formation of daily trading volume,” he concluded.
Kazatomprom is the world’s largest producer of natural uranium with priority access to one of the world’s largest resource bases. National Wealth Fund Samruk-Kazyna JSC owns 85,08 percent of the share capital of NAC Kazatomprom JSC, while 14,92 percent are in free circulation at the Astana International Exchange and London Stock Exchange.
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