Tengrinews TV Радио Tengri FM Радио Жұлдыз FM Laws of Kazakhstan
Write us +7 (727) 388 8020 +7 (717) 254 2710
искать через Tengrinews.kz
искать через Google
искать через Yandex
USD / KZT - 319.42
EUR / KZT - 400.04
CNY / KZT - 50.35
RUB / KZT - 5.66

Government and Samruk-Kazyna to submit final plan on People’s IPO within 10 days

29 февраля 2012, 17:15
Kazakhstan’s Government and the Samruk-Kazyna Sovereign Wealth Fund are expected to submit their joint final plan on the People’s IPO within 10 days’ time, the country’s PM Massimov announced.

“I believe the efforts to raise general public’s awareness of the IPO have been inadequate (…) Within 7-10 days’ time we will have a step-by-step plan”, the PM said when speaking before the national Majilis (lower chamber) February 29.

According to him, “first of all the plan involves KEGOC National Power Grid Operator and KazTransOil”.

“These are the first two companies to float their shares through the People’s IPO. Resources allocated to raise general public’s awareness of the Program will be used by Samruk-Kazyna to educate people at large”, the PM emphasized.

Speaking at the Nur Otan party congress on February 11, 2011 President Nazarbayev instructed the Government to launch Initial Public Offerings (IPO) for common people before the end of 2011. The program is known as People’s IPO. According to President Nazarbayev, the IPO for the general public will enable citizens to purchase shares of the largest Kazakh companies, giving them a new tool for investments and savings.

Tengrinews.kz reported August 23, 2011, quoting Economic Development Minister Kelimbetov, that “the shares [of the national companies to be floated within the People's IPO] will be offered at market value (…) we’ve chosen the best timing: the companies are not overvalued at the present time”.

According to the Minister, potential demand for the shares on the part of common people is estimated at $100-200 million. However, the demand may grow following the nation-wide campaign designed to raise financial awareness of the population at large.

The Minister added that “on the part of accumulation pension funds, potential demand is estimated at $200-300 million with regards to the first wave of IPOs”.

Late December 2011 Managing Director of Samruk-Kazyna Welfare Fund Peter Howes said that the price of one share in the People’s IPO would be affordable for common Kazakhstan citizens.

According to him, KazTransOil and KEGOK companies that will be the first to offer their stock are preparing to launch the program. “They are going to split their shares to make the price affordable,” Howes said adding that the cost had not been defined yet.

“We cannot name the price of one share right now, but of course we can make the price not 10 thousand tenge, but around 100 tenge. We will make the prices low enough to allow everyone to buy at least one share or a batch of shares. I think that if one share costs, say, 150 tenge, it will be affordable for everyone. Of course, if the broker services costs 400 tenge, there is no point in buying only one share, but if someone wants to, they can. We want people to feel that they have their say,” Howes said at the time.

Хотите больше статей? Смотреть все
Добавить комментарий
Most Read
Most Discussed