KazMunaiGas Exploration Production JSC Commences Redemption of its Stocks

Oil&Gas Materials 27 November 2008 14:08 (UTC +04:00)

Kazakhstan, Astana, 27 November / Trend corr. K.Konirova/ KazMunaiGas Exploration Production JSC announced that within the program of redemption of its stocks, which began on 24 November 2008, the company acquired 2,174 ordinary stocks at an average price of 9,300 tenges for one simple action at the Kazakhstan Stock Exchange (KASE) on 26 November, the company said.

"Under the program, the company intends to acquire ordinary shares placed on KASE and global depository receipts posted on the London Stock Exchange, worth $350mln," said the company.

Redemption of stocks will take place in accordance with the requirements of stock exchanges and will be completed before 31 October 2009, the company said. The company appointed two brokers, one for each exchange, to implement the redemption.

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