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Prime Minister of Kazakhstan launched “People’s IPO” Program 0

Posted on November 08, 2012 by KazCham

Gazeta, Oct 30, 2012

Kazakh Prime Minister Serik Akhmetov instructed local agencies actively involved in the work to promote “People’s IPO” new program of Kazakhstan.

“Today the program People’s IPO” is being launched. his decision was preceded by a preparatory, organizational, technical, financial work. A large set of issues with international experts, consultants, banks and financial institutions were discussed. A large number of people who use foreign experience were connected to this work, S. Akhmetov told.

The Prime Minister of Kazakhstan stressed that the “People’s IPO” is the first program of this kind in Kazakhstan, and its success will depend on how well it will be aware of the population.

“Kazakh people will have an opportunity to send their savings not only for the purchase of real estate, invest in deposits, but to invest in modern financial institutions.

According to this program, every citizen of Kazakhstan can buy shares of the national well-known international company “KazTransOil”. “I believe, it is necessary to promote widely this program among the people. Every citizen of Kazakhstan should receive comprehensive information for decision making. I would like to draw the attention of region’s Governors of Almaty and Astana to this work, S.Akhmetov concluded.

“People’s IPO” to create wealth, bolster capital markets 0

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

Ex-KMG president named head of KazTransOil 0

Posted on October 13, 2011 by Alex

Kairgeldy Kabyldin, ex-president of the national oil and gas company KazMunaiGas,  was  named head  of  its subsidiary and Kazakhstan’s  oil pipeline operator, KazTransOil.

Kabyldin has replaced Nurbol Sultan, who in turn was appointed head of KazTransGas, Kazakhstan’s gas pipeline operator.  Kabyldin, who had been CEO of KazMunaiGas since 2008, was unexpectedly dismissed from his position last week and replaced by Bolat Akchulakov, a young oil and gas executive who is rumored to have close ties to Timur Kulibayev, head of Samruk-Kazyna, the  state-owned holding company  which  owns 100% of shares in KazMunaiGas.

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

Kazakhstan Pushing Ahead With Share Sale, Economy Minister Says 0

Posted on September 24, 2011 by Alex

Nariman Gizitdinov and Daryna Krasnolutska, Bloomberg, Sep 18, 2011

Kazakhstan, Central Asia’s biggest energy producer, is pushing ahead with plans to sell shares to citizens in initial public offerings, even with the current global market turmoil, Economic Development and Trade Minister Kairat Kelimbetov said.

The first companies to be included in the operation will be AO Kaztransoil and AO Kazakhstan Electricity Grid Operating Co., known as Kegok, Kelimbetov said in a Sept. 16 interview in the Ukrainian city of Yalta. Citizens will be able to resell shares on the secondary market with no restrictions, he said.

“We will offer around 10 percent of the shares of each company,” he said. “They are infrastructure companies which do not depend much on the world’s market fluctuations.”

Kelimbetov said that the first wave of sales will involve six or seven companies starting in the second quarter of next year, and “if there is no major bad news, we think IPOs for big companies such as AO KazMunaiGaz National Co. and nuclear company AO NAK Kazatomprom could begin from 2015.” Kazakhstan holds about 3 percent of the world’s oil reserves.

The government targets an inflation rate between 6 percent and 8 percent this year and next year, he said, down from 9 percent in August. He didn’t speficy which policies the government would implement to help slow price growth.

Even with the ministry raising its average crude oil price estimate to $90 from $65, the national currency, the tenge, won’t “seriously strengthen,” Kelimbetov said. “It will be within the corridor set up by the central bank. We put that assumption into our budget for next year.”

State Budget

The Kazakh 2012 state budget assumes an average oil price of $80 next year and $70 in 2013 and 2014, Kelimbetov said.

Kazakhstan returned to a managed free float of the tenge by abolishing its trading corridor on Feb. 28 to allow the currency to appreciate, taming import prices. The tenge has risen 0.18 percent versus the dollar this year, Bloomberg data shows.

Assets at the nation’s oil fund have risen to $40 billion, Kelimbetov said.

Kazakhstan supports setting up a grain pool with Ukraine and Russia for exporting cereals, Kelimbetov said.

To contact the reporters on this story: Nariman Gizitdinov in Almaty at ngizitdinov@bloomberg.net; Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.net

SOURCE: http://www.kazakhembus.com/index.php?mact=News,cntnt01,detail,0&cntnt01articleid=777&cntnt01origid=15&cntnt01returnid=201

Kazakhstan Daily News Roundup – July 15, 2011 0

Posted on July 14, 2011 by KazCham



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