BAKU, Azerbaijan, Jun. 9
By Nargiz Sadikhova - Trend:
Kazakhstan’s Samruk-Kazyna Sovereign Wealth Fund sold 275,496 Global Depositary Receipts (GDRs) and 109,504 Shares of Kazatomprom National Atomic Company, Trend reports with reference to the Astana International Financial Center (AIFC).
The transaction was made on June 8, 2020, at the price of $13 per one GDR and $5,230 tenge ($13) per one share to retail investors who are citizens of Kazakhstan, solely through Astana International Exchange (AIX). The retail-only placing opened on June 3 and closed on June 8, 2020.
The retail order book at AIX gained strong interest among domestic investors and was oversubscribed by almost three times.
As a result of the institutional and retail offers, Samruk-Kazyna raised aggregate gross proceeds of $211.6 million with around 35 percent of the overall demand coming through AIX.
At the time of the initial public offering in November 2018, Samruk-Kazyna sold in aggregate 14.92 percent of Kazatomprom’s issued share capital on the AIX and LSE.
Following a secondary placement in September 2019, the total free float increased to 18.72 percent. With the current secondary placement, the total free float of Kazatomprom is now equal to 25 percent.
AIX was formed in 2017 within the Astana International Financial Center development framework. AIX shareholders are AIFC, Goldman Sachs, the Shanghai stock exchange, the Silk Road Fund, and NASDAQ, which also provides the AIX trading platform.
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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