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Aftermarket trade of KazTransOil stock started as part of People's IPO

26 december 2012, 11:27
0
Photo by Danial Okassov©
Photo by Danial Okassov©
The aftermarket trade of common stock of KazTransOil as part of the People’s IPO Kazakhstan state program officially started at Kazakhstan Stock Exchange yesterday, Tengrinews.kz reports.

During this event the company’s stock is offered to investors who did not submit applications during their initial placement. The securities can also be bought by the shareholders who wish to increase their shares in the company. The stock at the aftermarket can be purchased by individuals and legal entities, both Kazakhstan and foreign investors. The trading is done online.

Deputy Director General on development of KazTransOil Bulat Zakirov said that the company made 27.9 billion tenge ($186 million) during the initial placement of its stock. He said that these funds will become an additional motivation for increasing the company’s efficiency. The additional investments will allow to develop more projects of the joint stock company. Zakirov added that the average application made 638 thousand tenge ($4,253). As a result around 8 percent of the company’s shares are now owned by Kazakhstan citizens.

Almost 34 thousand of Kazakhstan citizens will become shareholders of KazTransOil. The company received 34,687 applications for the total amount of 59.5 billion tenge ($396 million), including 34,676 applications from Kazakhstan citizens, 10 applications from national pension funds and 1 application from a market-maker. An additional analysis showed some duplications among the applications (applications submitted by the same investor) that were summed up when the Registrar of Approved Applications was formed. The analysis also showed that 67 citizens submitted applications for over 7 million tenge ($47 thousand).


By Dmitriy Khegai

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