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Kazakhstan's KEGOC to postpone floating in People's IPO

23 мая 2013, 15:12
Photo by Danial Okassov©
Photo by Danial Okassov©
The deadline for KEGOC to float its stock as part of the People’s IPO has been put off, Tengrinews.kz reports citing Managing Director of Samruk-Kazyna Peter Howes.

“Of course, we want all our company to make the IPO. But for this we need full confidence of the government’s support. A company is taken to the IPO after everyone signs the conditions. If that doesn’t happen, we need to wait for a while, as this is protection of the new investors. We wanted to start accepting the applications in May but some things are still not ready. We are waiting. We will be able to do it now if we solve the problems. But most probably we will be do it in the second half of the year,” Peter Howes said.

Speaking about Samruk-Energo's IPO, he said that the company was ready but some issues remained unresolved.

“The company is morally ready and the internal processes are ready as well. We are discussing some issues to make the company more attractive before the IPO. But what concerns KEGOC, if everything is ready we are planing to float now or in the second half of the year,” Peter Howes said.

Earlier Tengrinews.kz English reported that KEGOC completed preparation for floating its stock as part of the People's IPO in Kazakhstan and the applications were to be accepted starting from May 13 to June 11.

By Baubek Konyrov

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