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Kazakhstan's Samruk-Kazyna decreases its share in Kazatomprom

Business Materials 3 June 2020 16:09 (UTC +04:00)
Kazakhstan's Samruk-Kazyna decreases its share in Kazatomprom

BAKU, Azerbaijan, Jun. 3

By Nargiz Sadikhova - Trend:

Kazakhstan’s Samruk-Kazyna Sovereign Wealth Fund sold global depository receipts (GDRs) worth $206.6 million representing its share in Kazakhstan’s Kazatomprom National Atomic Company, Trend reports with reference to the Samruk-Kazyna.

Earlier this month, 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.

The placing comprises two separate placings structured as follows: Institutional Placing and Retail Placing.

The Institutional Placing was upsized from the previously announced offering of approximately 11.5 million shares to approximately 15.9 million shares, thus amounting to 6.28 percent of shares in the company.

“Samruk-Kazyna has sold an aggregate of 14.8 million GDRs at a price of $13 per GDR, and an aggregate of 1.03 million shares at a price of 5,230.81 tenge (calculated as the GDR purchase price of $13.00 per GDR), thereby raising aggregate gross sale proceeds of $206.6 million. Some 1.0 million aggregate amount of shares were sold through the Astana International Exchange (AIX) and purchased by domestic investors, whereas 4.3 million GDRs were placed through the AIX, of which 2.5 million GDRs were placed to international investors and 1.8 million GDRs were placed to domestic investors,” the report said.

The proceeds of the Institutional Placing are payable in cash on usual settlement terms, and closing of the Institutional Placing is expected to occur on June 5, 2020. The company will not receive any proceeds from the Institutional Placing.

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.

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