Kazakhstan Chamber of Commerce in the USA

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Four Kazakh companies to float in People’s IPO

Posted on August 20, 2014 by KazCham

Business Intelligence from Colibri Law Firm: Issue #91

Four big Kazakhstani companies will float their shares during the People’s IPO. These are KEGOC, Samruk-Energy, Kazakhstan Temir Zholy and KazAtomProm.

Kazakhstan Electricity Grid Operating Company (KEGOC) is a national transmission grid operator of Kazakhstan.

Samruk-Energy produces, transmits and distributes electricity in Kazakhstan. It also produces heat, mines coal, constructs power facilities, operates power plants, power lines, and substations, operates thermal and hydroelectric power stations, and designs and constructs renewable energy facilities for the production of electricity and heat from renewable energy sources.

Kazakhstan Temir Zholy is the national railway company of Kazakhstan. 

KazAtomProm is a state-owned nuclear holding company that produces Uranium, Beryllium, Tantalum and Niobium.

Kazakhstanis will be able to purchase KEGOC’s stock as soon as in December this year, but no preliminary dates for the other three companies are available yet. Only very few details of the campaign have been disclosed so far. Costs and rules and restrictions have not been unveiled. It is known that 10 percent minus one share in KEGOC is going to be floated. The main advantage of the People’s IPO is that shares will be sold at their nominal value, that is, the lowest price per share at the primary listing bid. And the new holders of the floated stock will be able to start receiving dividends on their stock in one year after the purchase.

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