BAKU, Azerbaijan, Sept. 3
By Nargiz Sadikhova - Trend:
Kazakhstan’s Samruk Kazyna Sovereign Wealth Fund is planning to sell 10 percent of shares of Kazakhtelecom and Air Astana companies, Managing Director for Strategic Development of the fund, Lyazzat Borankulova said, Trend reports with reference to Kazakh media.
The shares will be sold within the framework of the state privatization program.
This will change approaches to portfolio management of the Samruk-Kazyna allowing it to focus on managing investment efficiency, instead of solving routine tasks of companies.
“Within the framework of the privatization program initiated by Kazakhstan’s Government, 10 percent of shares of Kazakhtelecom and Air Astana will be sold, as a result of which the controlling stake will be on the side of private investors. The possibility of selling such shares in Samruk-Energy, Kazpost, and Qazaq Air companies is also being considered on similar terms,” Borankulova said.
Talking about the fund’s new investments Borankulova said that the fund has priority sectors that correspond to national interests: manufacturing industry; logistics; mechanical engineering; ICT; scientific developments; infrastructure; ‘green’ energy; healthcare; agriculture.
Sovereign Wealth Fund Samruk-Kazyna Joint Stock Company is the Fund, where the sole shareholder is the Government of the Republic of Kazakhstan.
Samruk-Kazyna JSC Group includes enterprises operating in several industries – oil, transport and logistics, chemical and nuclear, mining and smelting, energy, mechanical engineering, and real estate.
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