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Public servants in Kazakhstan allowed participation in People’s IPO 0

Posted on September 06, 2011 by Alex

Trend, September 2011

There will be no collision of interests if public servants in Kazakhstan purchase shares of national companies to be floated within the People’s IPO, Kazakh Finance Minister Bolat Zhamishev said, Tengri News reported referring to Novosti-Kazakhstan.

Initial Public Offerings known as People’s IPO will be launched till the end of 2011 under the instruction of President Nursultan Nazarbayev. The program will enable citizens to purchase shares of the largest Kazakh national companies, giving them a new tool for investments and savings.

Initially public servants were prohibited to participate, but the ban has been lifted recently to stimulate the inactive Kazakh stock market.

“There will be no conflict of interest, as the shares will be offered to general public”, Minister Zhamishev told journalists on Friday.

The first wave of People’s IPO, which includes KEGOC national power grid operator and AirAstana airline, will be run in Q2-3, 2012. The second wave with shares of KazTransGas, KazMorTransFlot and Samruk-Energo is planned to be launched in 2013. And the third wave with KazakhtanTemirZholy National Railways Operator and KazTemirTrans will start in 2014-2015.

SOURCE: http://www.kazakhembus.com/index.php?mact=News,cntnt01,detail,0&cntnt01articleid=771&cntnt01origid=15&cntnt01returnid=201



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