Kazakhstan Chamber of Commerce in the USA

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“People’s IPO” to create wealth, bolster capital markets

Posted on October 31, 2011 by Alex

The dual goal of the planned “people’s IPO” program is to create a wealth creation conduit for the Kazakh population and  to  bolster  the  development of domestic capital markets, Marcia Favale-Tarter, an investment banker and advisor to Kazakhstan’s Prime Minister Karim Masimov, told Bloomberg on the sidelines of the Kazakhstan Business Forum in London last week.

The “people’s IPO,” a privatization program in which the Kazakh government will sell stakes in some of the country’s largest companies to domestic investors, will help create an investment culture among the Kazakh population, improve corporate governance, and bolster the development of the country’s investment infrastructure, according to Favale-Tarter. Air Astana, KEGOC, and KazTransOil will headline the offerings, but “all companies underare being evaluated.”

SOURCE: SRI, Kazakhstan Daily News Brief, dated 24 October, 2011, available at http://silkroadintelligencer.com/wp-content/files/srikznewsbrief_oct24_2011.pdf

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