Kazakhstan Chamber of Commerce in the USA

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Masimov meets Citigroup Deputy Chairman to discuss “people’s IPO” 0

Posted on October 13, 2011 by Alex

Kazakhstan’s Prime Minister Karim Masimov met on Tuesday with Carlos Gutierrez, Vice Chairman of the Institutional Clients Group at Citigroup.  Citigroup currently advises the Kazakh government on the people’s IPO” program, a partial privatization  that  would offer stakes in large state-owned companies to domestic investors.  Citigroup  and other global investment banks  are vying to land lucrative advisory mandates  for the planned deals.  According to reports, the government is currently looking for an international bank advisor for the IPO of KEGOC, the national electricity grid operator, which is expected to headline the program.  Halyk Finance has reportedly already been appointed as a domestic advisor on the deal.

SOURCE: SRI, Kazakhstan Daily News Brief, Issue dated October 12, 2011



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