KMG minority shareholders' interests must be taken into account ahead of IPO
Azerbaijan, Baku, September 17 / Trend S. Suleymanov /
Any move to offer KMG shares through an IPO must be thoughtful and balanced, the director general of Exploration and Production at KazMunaiGas, Kenzhebek Ibrashev, has said.
"Decisions of such importance and scale must thoughtful and balanced, as they can have enormous significance for the entire oil and gas industry of Kazakhstan," Ibrashev said. He said that existing minority shareholders' interests must be taken into account while the company considers an IPO.
"Minority shareholders' interests must not suffer in any case because existing shareholders are the potential investors. The national company KazMunaiGas relies on their interest if the decision on the IPO is taken," he said.
He said that one must not forget that becoming shareholders, they expressed their confidence in the company not only in terms of its stability, but in the stable investment climate of Kazakhstan.
It has been reported that among minority shareholders of KMG is the largest Chinese company CIC.