Around half a million Kazakhs to take part in People’s IPO programme
Kazakhstan, Astana, 30 Oct. 30 / Trend corr. D. Mukhtarov /
Around half a million Kazakhs can take part in the People's IPO programme, the chairman of the board of the Samruk-Kazyna National Welfare Fund (NWF) Umirzak Shukeyev, stated on Tuesday during his speech at a government meeting.
"According to the results of our survey, 7.3 per cent of respondents announced their intention to buy shares in national companies. Given this data, the potential of participation in the programme can be assessed at the level of 500,000 people," Shukeyev said.
At the same time, in his opinion the number of participants may increase after the opening of the campaign after which most people are going to make their decisions.
The head of the Samruk-Kazyna Fund reported that the deadline for applications for participation in the People's IPO programme is November 6 and the calculations will be made until 14 December.
As previously reported, shares of KazTransOil will be the first to be put up for sale.
Following the meeting of the Samruk Kazyna board of directors, it was decided that the price of one ordinary KazTransOil share of will be 725 tenge (150.68 tenge = $1).
The price has been formed on the advice of international advisers from UBS and Kazkommerts Securities companies which have fully estimated the cost of the company. The number of the shares is approved at the level of 10 per cent minus one share of the total number of authorised common shares which makes up 38, 463.559 ordinary shares.
The maximum amount of offers with the endorsement of the Samruk Kazyna board of directors plus the number and the offering price of KazTransOil shares will be about 28 billion tenge ($186 million).
The People's IPO programme is to be rolled out in three stages from 2012 to 2015. State-owned companies are divided into three echelons: KazTransOil shares will be placed in 2012, KEGOC, Air Astana, KazTransGas, Samruk-Energo, Kaztransmorflot - in 2013, Kazakhstan Temir Joly , Kaztemirtrans in 2014, and Kazatomprom , KazMunaiGas - in 2015.
It is planned that the 10 largest companies in Kazakhstan will offer their shares for sale to citizens of the Republic by 2015. About 160.000 of Kazakhs will take part in the programme.