...

Kazakhstan's Samruk-Kazyna eyes selling its share in Kazatomprom

Business Materials 3 June 2020 09:47 (UTC +04:00)
Kazakhstan's Samruk-Kazyna eyes selling its share in Kazatomprom

BAKU, Azerbaijan, Jun. 3

By Nargiz Sadikhova - Trend:

Kazakhstan’s Samruk-Kazyna Sovereign Wealth Fund is looking to sell its share in Kazakhstan’s Kazatomprom National Atomic Company, Trend reports with reference to the Samruk-Kazyna.

Thus, Samruk-Kazyna announced its intention to sell approximately 11.8 million ordinary shares in the share capital of Kazatomprom in the form of shares and global depository receipts representing shares (GDRs).

The Placing Securities (GDRs together with the shares) represent approximately 4.55 percent of the Kazatomprom’s issued share capital.

Any of the Company’s Shares and GDRs held by Samruk-Kazyna which are not sold in the Placing will be subject to a 180-day lock-up, subject to customary exceptions, the report said.

The current ownership interest of Samruk-Kazyna in the Kazatomprom is approximately 81.28 percent, and assuming all of the Placing Securities are sold, Samruk-Kazyna will continue to hold approximately 76.7 percent of the issued share capital of the Kazatomprom.

The placing comprises two separate placings structured as follows:

1. Institutional Placing, i.e. approximately 11.5 million shares (in the form of shares and GDRs) will be offered to institutional investors by way of an accelerated bookbuild process on the LSE and the AIX (the Institutional Placing). The Institutional Placing will be launched immediately following this announcement (after close of trading on the LSE) and may be closed at any time on short notice.

2. Retail Placing, i.e. approximately 385,000 shares (in the form of shares and GDRs) will be offered to retail investors which are citizens of Kazakhstan by way of an extended bookbuild process on the AIX (the Retail Placing) subject to the successful completion of the bookbuilding and pricing of the Institutional Placing. The Retail Placing is expected to be launched on June 3, 2020 and will be announced separately.

Kazakhstan's Kazatomprom is the world's largest producer of uranium, with the company’s attributable production representing approximately 23 percent of global primary uranium production in 2018.

The company benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 26 deposits grouped into 13 mining assets. All of the company’s mining operations are located in Kazakhstan.

---

Follow the author on twitter: @nargiz_sadikh

Tags:
Latest

Latest