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People's IPO to kick off in Kazakhstan after parliamentary elections

25 november 2011, 10:21
0
Peter Howes. Photo by  Danial Okassov©
Peter Howes. Photo by Danial Okassov©
Economic forum Expert-100-Kazakhstan. Photo by  Danial Okassov©
Economic forum Expert-100-Kazakhstan. Photo by Danial Okassov©
People's IPO program will kick off in Kazakhstan after parliamentary elections, Tengrinews.kz reports citing Managing Director of Samruk-Kazyna National Welfare Fund (NWF) Peter Howes as saying during the discussion called Financing of the Economy: Search for Alternatives at the 3rd economic forum of large business Expert-100-Kazakhstan held in Astana on November 23.

“There will be a complete program and we will start a serious work right after the elections, most probably in February. We will hold polls and check the awareness in order to either enhance or continue the program as it is,” Peter Howes said. According to him, planned the number of participants of the program is around 500 thousand, not 160 thousand.

“I think there is a risk that people will not get the desired number of shares. Everyone is talking about 160 thousand people, this is a very small number for a country of 16 million people. Currently we have 2 thousand active shareholders. How will we reach 160 thousand? In England 2 million out of 60 million took part. This means that we will have around 500 thousand, and not 160, if calculated correctly,” he said.

As for education and awareness campaigns, NWF Managing Director said Kazakhstan National Bank is performing the work in the regions. But the little hours spent on educating population are not enough, he stated.

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